Tuesday December 15, 2015
Economic Calendar & Watch List 12/15/2015
Morning Notes
US futures are higher this morning by nearly +1% and European stocks are trading sharply higher by over +2% after a strong rally in crude oil. Asian stocks closed mostly mixed.
Technicals
The SPY initially sold off in yesterday’s session but later made a strong rebound closing near the highs. Support will lie at the low of yesterday’s range at $199.95, followed by $199.64, $198.94, and $198.59. Resistance will lie at the high of yesterday’s range at $203.05, followed by $204.14, $204.18, the 50 day moving average at $205.97, and finally the 200 day moving average at $206.40.
Small Cap Watch List
KTOV: Kitov Osteoarthritis, Hypertension Combo Meets Goal. Gapping up 45%.
**Others On Watch**
QCOM – After completing a strategic review, Qualcomm Raises FY1Q EPS View After Rejecting Split
LL – Whitney Tilson Covered Lumber Liquidators Short
MMM – 3M Sees 2015 EPS $7.55, Saw $7.60 to $7.65, Est. $7.62
Economic Calendar
8:30 Dec Empire manufacturing survey of general business conditions expected +3.74 to -7.00
8:30 Nov CPI expected unch m/m and +0.5% y/y
9:30 FOMC begins 2-day policy meeting
10:00 Dec NAHB housing market index expected +1 to 63
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE