Thursday November 5, 2015
Economic Calendar & Watch List 11/5/2015
Morning Notes
US futures are slightly higher this morning along with European stocks trading higher by nearly 1%. Facebook (FB) reported stronger than expected Q3 earnings and is trading up over 4% in the premarket. Yesterday, Fed Chair Janet Yellen spoke and her comments still hinted at a possible interest rate hike before years end. Asian markets closed mixed.
Technicals
The SPY ended lower in yesterday’s session after a secondary test of descending resistance at $211 to close back below at $210.36. Support will lie at the low of yesterday’s range at $209.72 which also aligns with Tuesday at $209.70. Below, the next levels are $208.17, $207.74, and the 200 day moving average at $206.36. Resistance will still remain in descending form at $211, followed by the high of yesterday’s range at $211.50, $211.66, and $211.77.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
WFM
FEYE
RL
EXPE
Economic Calendar
8:30 Weekly initial unemployment claims expected +2,000 to 262,000
8:30 Q3 non-farm productivity expected -0.3%
8:30 USDA weekly Export Sales
8:30 Fed Vice Chair Stanley Fischer, New York Fed President William Dudley and IMF Managing Director Christine Lagarde speak
1:30 Atlanta Fed President Dennis Lockhart speaks
Notable Earnings Before Open
ENDP: Endo Pharmaceuticals – EPS Est. $1.00, Rev. Est. $736.16M
SYMC: Symantec – EPS Est. $.42, Rev. Est. $1.5B
RL: Ralph Lauren – EPS Est. $1.74, Rev. Est. $1.95B
CELG: Celgene – EPS Est. $1.22, Rev. Est. $2.4B
Notable Earnings After Close
TRIP: TripAdvisor – EPS Est. $.55, Rev. Est. $430.55M
MNST: Monster Beverage – EPS Est. $.81, Rev. Est. $742.39M
DIS: Walt Disney – EPS Est. $1.14, Rev. Est. $13.55B
NVDA: Nvidia – EPS Est. $.25, Rev. Est. $1.18B
SHAK: Shake Shack – EPS Est. $.07, Rev. Est. $47.46M
