Wednesday September 30, 2015
Economic Calendar & Watch List 9/30/2015
US futures are sharply higher by over +1% and European stocks are also trading higher by over +2% after a strong move in the China Shanghai index overnight.
The SPY traded lower yet again in yesterday’s sessions but managed to close back off the lows at $188.12. Resistance will lie at the high of yesterday’s range at $190.74, followed by $191.91 and $195. Support will lie at the low of yesterday’s range at $186.92 which lines up with a prior low on August 25th.
NVAX: Novovax – The company announced that Phase 1 Data Suggests Vaccine Safety in Kids. NVAX was also rated an Outperform with a $17 price target at FBR. Gapping up 8% with a 265M share float.
**Others On Watch**
8:00 New York Fed President William Dudley speaks on market liquidity
8:15 Sep ADP employment change expected +190,000
9:00 Sep Milwaukee ISM expected +0.83 to 48.50
9:45 Sep Chicago PMI expected -1.4 to 53.0
10:30 EIA Weekly Petroleum Status Report
2:00 Fed Chair Janet Yellen and St. Louis Fed President James Bullard make opening remarks at the St. Louis Feds annual community banking conference
Earnings Before Open
PAYX: Paychex – EPS Est. $.51, Rev Est. $717.55M
Earnings After Close