Economic Calendar & Watch List 1/7/2016

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Thursday January 7, 2016

 

Economic Calendar & Watch List 1/7/2016

 

Morning Notes

US futures are broadly lower this morning by over -2% and European stocks are trading lower by over -3% after another selloff in China’s stocks within the first hour of trading triggered a trading halt for the second time this week. The PBOC(People’s Bank of China) cut their reference rate for the yuan in attempt to spark economic growth through a weakened currency. Commodities were crushed overnight dragging energy producers lower.

 

Technicals

SPY_1_7

The SPY is gapping down sharply again this morning into large pockets of clear space. Support will first lie at $189.12, followed by $186.93 which was near the lows during the August sell off. Resistance will lie at $195.03, $196.33, $197, $197.48, and $ 197.60.

 

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**

BABA

DVAX

FB

 

Economic Calendar

8:30 Weekly initial unemployment claims expected -12,000 to 275,000, previous +20,000 to 287,000

8:30 USDA weekly Export Sales

8:45 Richmond Fed President Jeffrey Lacker speaks

2:15 Chicago Fed President Charles Evans speaks

                                          

Notable Earnings Before Open

WBA: Wallgreens Boots Alliance – EPS Est. $.97, Rev Est. $29.25B

STZ: Constellation Brands – EPS Est. $1.21, Rev Est. $1.69B

 

Notable Earnings After Close

BBBY: Bed Bath  & Beyond – EPS Est. $1.09, Rev Est. $3.03B

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