Monday October 26, 2015
Economic Calendar & Watch List 10/26/2015
Morning Notes
US futures are slightly lower and European stocks are also trading lower after markets consolidate after a late week rally on Thursday and Friday. Asian stocks failed to reflect the interest rate cut by the PBOC and closed mostly lower.
Technicals
The SPY moved higher again in Friday’s session closing back above the 200 day moving average. Support will lie at the low of Friday’s range at $206.30 followed by the 200 day moving average at $206. Resistance will lie at the high of Friday’s range at $207.95, followed by $210.01.
Small Cap Watch List
BDSI: Biodelivery Sciences – The company will receive a $50M milestone payment from partner, Endo Pharmaceuticals (ENDP) due to their FDA approval of Belbuca. Gapping up 17% with a 46.5M share float.
**Others On Watch**
CTRP
CSIQ
Economic Calendar
10:00 Sep new home sales expected -0.4% to 550,000
10:30 Oct Dallas Fed manufacturing activity expected +3.0 to -6.5
11:00 USDA weekly grain export inspections
4:00 USDA weekly crop progress
Notable Earnings Before Open
NONE
Notable Earnings After Close
BRCM: Broadcom – EPS Est. $.74, Rev Est. $2.14B
HIG: Hartford International Group – EPS Est. $.98, Rev Est. $4.75B