Friday September 25, 2015
Economic Calendar & Watch List 9/25/2015
Morning Notes
US futures are significantly higher and European stocks are sharply higher by over 3% after Janet Yellen said the FOMC was on track to raise interest rates this year. Yellen’s comments displays the FOMC’s confidence in the US economy. Asian stocks closed mixed.
Technicals
The SPY traded in a wider range yesterday than the prior few days and closed higher. The SPY is gapping up this morning above $195 which puts it in a wide range window. Support will lie at $195.21, followed by $194.96 and $194.67. Resistance lies at $197.68 and $198.41.
In Play
BLPH: Bellerophon Therapeutics – The company reported a mid-stage clinical study showed its drug Inopulse benefitted patients with high blood pressure in arteries that connect the lungs to the heart. Gapping up 58% with a 4.3M share float.
VBLT: Vascular Biogenics – Watch for a continuation play. A former momentum name. Gapping up 7% with a 5.8M share float.
**Others On Watch**
NKE
CYBR
Economic Calendar
8:30 Q2 GDP expected unrevised from last +3.7%. Q2 personal consumption expected revised to +3.2% from +3.1%
9:15 St. Louis Fed President James Bullard speaks on a panel on monetary policy at an event in St. Louis
9:45 Sep Markit services PMI expected -0.5 to 55.6, Aug +0.4 to 56.1
10:00 Final-Sep U.S. consumer sentiment index (University of Michigan) expected +0.8 to 86.5
1:25 Kansas City Fed President Esther George speaks about the economy and monetary policy at an event in Omaha, NE
Earnings Before Open
NONE
Earnings After Close
NONE
