Wednesday October 7, 2015
Economic Calendar & Watch List 10/7/2015
US futures are higher this morning and European stocks are trading higher by over +.5% nearing 3 week highs. A rally in crude oil as well as in copper has pushed commodity and energy producer stocks higher. Asian stocks closed mostly higher.
The SPY traded in a much tighter consolidation range in yesterday’s session in relation to the last few days of higher moves. Support will lie at the low of yesterday’s range at $197, followed by $196.33 and $195.03. Resistance will lie at the high of yesterday’s range at $198.98, followed by $199.28 and then $202.89.
Small Cap Watch List
MEET: Meet Me – The company reported preliminary Q3 results above its previously released guidance. Gapping up 22% with a 32.8M share float.
GNCA: Genocea Biosciences – The company released the results of a study that showed positive durability data from its analysis of a Phase 2 clinical trial of GEN-003, used to treat genital herpes. Gapping up 27% with a 17.6M share float.
**Others On Watch**
10:30 EIA Weekly Petroleum Status Report
1:00 Treasury auctions $21 billion of 10-year T-notes
2:00 San Francisco Fed President John Williams speaks
3:00 Aug consumer credit expected +$19.5 billion
Earnings Before Open
STZ: Constellation Brands – EPS Est. $1.32, Rev Est. $1.73B
MON: Monsanto – EPS Est. ($.03), Rev Est. $2.76B
AYI: Acuity Brands – EPS Est. $1.62, Rev Est. $754.85M
Earnings After Close