Tuesday December 16, 2015
Economic Calendar & Watch List 12/16/2015
Morning Notes
US futures are slightly higher this morning by roughly +.5% and European stocks are also trading higher by +.7% as the market awaits the results of the Fed’s meeting and whether or not interest rates will be raised. Currently, the markets are expecting rate hike of .25% and any future rate hikes will be gradual in pace. Asian stocks closed mostly higher.
Technicals
The SPY traded in a wide range in yesterday’s session making for some volatile price action which, in turn, provides for many day trading opportunities. Support will lie at the low of yesterday’s range at $202.87, followed by $199.95. Resistance will lie at the high of yesterday’s range at $206.11 which also coincides with the 50 day moving average at $206.10. Thereafter, the 200 day moving average lies nearby at $206.37, followed by $207.43, $208.68, and $209.73.
Small Cap Watch List
**Others On Watch**
SCTY
VRX
Economic Calendar
8:30 Nov housing starts expected +6.6% to 1.130 million
9:15 Nov industrial production expected -0.1% m/m
10:30 EIA Weekly Petroleum Status Report
2:00 FOMC announces interest rate decision expected +25 bp rate hike to 0.25%-0.50%
Notable Earnings Before Open
JOY: Joy Global – EPS Est. $.42, Rev Est. $791.14M
Notable Earnings After Close
FDX: Fedex – EPS Est. $2.52, Rev Est. $12.45B
ORCL: Oracle – EPS Est. $.60, Rev Est. $9.06B
JBL: Jabil Circuit – EPS Est. $.80, Rev Est. $5.22B
