Thursday December 17, 2015
Economic Calendar & Watch List 12/17/2015
Morning Notes
US futures are slightly higher this morning while European stocks are trading sharply higher by nearly +3% after the Fed announced their decision to raise interest rates and future hikes would take place at a gradual pace. Asian stocks closed mostly higher.
Technicals
The SPY closed higher in yesterday’s session on increased volatility after the FOMC announced they would raising interest rates. A technical crossover known as golden cross is beginning to form on the daily chart of the SPY. A golden cross is considered a bullish sign and indicated when the 50 day crosses sharply above the 200 day moving average. Support will lie first at the 200 and 50 day moving averages which coincide at the $206.30 level followed by the low of yesterday’s range at $204.80. Resistance will lie at the high of yesterday’s range at $208.39, followed by $208.68, $209.73, and $209.97.
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**
ORCL
SCTY
FDX
LL
Economic Calendar
8:30 Weekly initial unemployment claims expected -7,000 to 275,000
8:30 Q3 current account balance expected -$118.5 billion
8:30 Dec Philadelphia Fed business outlook survey expected -0.9 to 1.0
8:30 USDA weekly Export Sales
10:00 Nov leading indicators expected +0.1%
11:00 Treasury announces amount of 2-year floating-rate notes to be auctioned Dec 23
1:00 Treasury auctions $16 billion 5-year TIPS
Notable Earnings Before Open
RAD: Rite Aid – EPS Est. $.06, Rev Est. $8.18B
GIS: General Mills – EPS Est. $.83, Rev Est. $4.61B
Notable Earnings After Close
RHT: Red Hat – EPS Est. $.47, Rev Est. $524.34M
