Thursday November 19, 2015
Economic Calendar & Watch List 11/19/2015
Morning Notes
US Futures are slightly higher this morning and European stocks are also trading higher by nearly +1% after the results of the FOMC’s most recent meeting signaled that the economy would be strong enough to endure a rate increase at the next meeting. Asian stocks closed mostly higher.
Technicals
The SPY surged higher in yesterday’s session after the release of the FOMC minutes, closing just off the highs. Support will lie at the 200 day moving average at $206.56, followed by the low of yesterday’s range at $205.99, and then $204.88. Resistance will lie at the high of yesterday’s range at $208.90, followed by $209.49, $210.32, and descending resistance at $210.70.
Small Cap Watch List
AVXL: Anavex Life Sciences – Extending its gains from yesterday. Gapping up 20% with a 28M share float.
CLDN: Celladon and Eiger BioPharmaceuticals sign merger agreement; concurrent financing of $39.5 million from investor syndicate. Gapping up 57% with a 13.9M share float.
NLST: Netlist Announces Strategic Partnership With Samsung For New Storage Class Memory. Gapping up 63% with a 39.2M share float.
**Others On Watch**
CRM
GMCR
BBY
UNH
Economic Calendar
| 8:30 Weekly initial unemployment claims expected -6,000 to 270,000
8:30 USDA weekly Export Sales 10:00 Nov Philadelphia Fed manufacturing outlook survey expected +4.2 to -0.3 10:00 Oct leading indicators expected +0.5% 12:30 Atlanta Fed President Dennis Lockhart speaks 1:00 Treasury auctions $13 billion 10-year TIPS |
Notable Earnings Before Open
SJM: JM Smuckers – EPS Est. $1.51, Rev Est. $2.08B
BBY: Best Buy – EPS Est. $.35, Rev Est. $8.86B
Notable Earnings After Close
ADSK: Autodesk – EPS Est. $.08, Rev Est. $591.36M
ROST: Ross Stores – EPS Est. $.50, Rev Est. $2.77B
GPS: Gap Inc. – EPS Est. $.63, Rev Est. $3.9B
INTU: Intuit – EPS Est. $.04, Rev Est. $670.37M
WSM: Williams-Sonoma – EPS Est. $.78, Rev Est. $281.4M
