Thursday October 29, 2015
Economic Calendar & Watch List 10/29/2015
Morning Notes
US futures are slightly lower this morning and European stocks are trading lower after the rally in US markets after the FOMC released their announcement after their 2 day policy meeting which left interest rates unchanged. Today’s economic data will give further insight on the actual strength of the US economy and better gauge the timing of a rate increase. Asian markets closed mixed across the board.
Technicals
The SPY surged higher late in yesterday’s session after the FOMC announcement. Support will lie at the low of yesterday’s range at $206.21 and the 200 day moving average at $206.15. Resistance will lie at the high of yesterday’s range at $208.98, followed by $210.01.
Small Cap Watch List
LOCK: LifeLock – The company has reached agreements to settle lawsuits with the Federal Trade Commission and consumers who sued the company. Gapping up 36% with a 80.4M share float.
CLF: Cliffs Natural Resources – tops 3Q profit expectations, misses revenue forecasts. Gapping up 10% with a 123.9M share float.
**Others On Watch**
GPRO
NXPI
RVNC
SWKS
Economic Calendar
8:30 Weekly initial unemployment claims expected +6,000 to 265,000
8:30 Q3 GDP expected +1.5%
8:30 USDA weekly Export Sales
10:00 Sep pending home sales expected +1.0% m/m
1:00 Treasury auctions $29 billion 7-year T-notes
Notable Earnings Before Open
JCI: Johnson Controls – EPS Est. $1.01, Rev Est. $8.79B
ALXN: Alexion Pharmaceuticals – EPS Est. $.78, Rev Est. $668.09M
POT: Potash – EPS Est. $.38, Rev Est. $1.46B
XEL: Xcel Energy – EPS Est. $.80, Rev Est. $3.24B
COP: ConocoPhilips – EPS Est. $(.38), Rev Est. $8.11B
MGM: MGM Resorts – EPS Est. $.03, Rev Est. $2.3B
MA: Mastercard – EPS Est. $.88, Rev Est. $2.54B
TWC: Time Warner – EPS Est. $1.57, Rev Est. $5.96B
Notable Earnings After Close
SBUX: Starbucks – EPS Est. $.43 Rev Est. $4.9B
FSLR: First Solar – EPS Est. $1.54, Rev Est. $1.11B
EXPE: Expedia – EPS Est. $2.05, Rev Est. $1.95B