Wednesday January 6, 2016
Economic Calendar & Watch List 1/6/2016
US futures are broadly lower this morning by over -1.5% and European stocks are trading lower by over -1.3% after a global selloff in stocks continues. China’s currency weakened more concerns were raised about about an economic slowdown. Apple (AAPL) is moving lower in pre market trading by nearly -3% leading tech stocks lower.
The SPY is gapping down sharply again this morning to critical levels of support. Support will lie at a very key level of $198.59, followed by $197.48, $197, and $196.33. Resistance will lie at the low of yesterday’s range at $200.05, followed by the high of yesterday’s range at $201.90.
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**
8:15 Dec ADP employment expected +195,000
8:30 Nov trade balance expected -$44.00 billion
9:45 Final-Dec Markit U.S. services PMI expected +0.3 to 54.0
10:00 Dec ISM non-manufacturing index expected +0.1 to 56.0
10:00 Nov factory orders expected -0.2%
10:30 EIA Weekly Petroleum Status Report
2:00 Minutes of the Dec 15-16 FOMC meeting
Notable Earnings Before Open
MON: Monsanto – EPS Est. $(0.22), Rev Est. $2.41B
Notable Earnings After Close