Wednesday November 4, 2015
Economic Calendar & Watch List 11/4/2015
Morning Notes
US futures are slightly higher this morning and European markets are trading at nearly 3 month highs after comments made by ECB President Draghi that they stand ready and able to provide additional support for a Eurozone recovery. Asian stocks had a strong move and closed higher overnight.
Technicals
The SPY continued its rally higher in yesterday’s session testing descending support at $211 and closed exactly at it. Support will lie at the low of yesterday’s range at $209.70 followed by $208.17, $207.74, and the 200 day moving average at $206.30. Resistance remains at the descending line at $211, followed by $211.66, $211.77, and $212.74.
Small Cap Watch List
**Others On Watch**
DSW
DPLO
KORS
Economic Calendar
7:00 Weekly MBA mortgage applications
8:00 Philadelphia Fed President Patrick Harker speaks
8:15 Oct ADP employment change expected +180,000
8:30 Sep trade balance expected -$41.00 billion
8:30 Treasury announces amount of 3-year T-notes, 10-year T-notes, and 30-year T-bonds
9:45 Final-Oct Markit services PMI expected +0.2 to 54.6
10:00 Oct ISM non-manufacturing index expected -0.4 to 56.5
10:00 Fed Chair Yellen appears before the House Financial Services Committee on bank regulation
10:00 EIA Weekly Petroleum Status Report
1:00 Treasury auctions $26 billion of 2-year T-notes
2:30 New York Fed President William Dudley speaks
Notable Earnings Before Open
TWX: Time Warner – EPS Est. $1.09, Rev Est. $6.51B
AGN: Allergan – EPS Est. $3.18, Rev Est. $4.03B
KORS: Michael Kors – EPS Est. $.89, Rev Est. $1.08B
MSI: Motorola Solutions – EPS Est. $.65, Rev Est. $1.41B
Notable Earnings After Close
FB: Facebook – EPS Est. $.52, Rev Est. $4.37B
WFM: Whole Foods Market – EPS Est. $.35, Rev Est. $3.47B
QCOM: Qualcomm – EPS Est. $.86, Rev Est. $5.21B