Thursday March 3, 2016
Economic Calendar & Watch Lists 3/3/2016
Morning Notes
US futures are relatively flat this morning and European stocks are trading slightly lower as the market awaits the Jobless claims and ISM numbers. Asian stocks closed higher lifted by the NIkkei surging to a 3 week high.
Technicals
The SPY continued its push higher in yesterday’s session closing out the day on highs. Support will lie at the critical pivot zone of $197.40 – $197.60, followed by the low of yesterday’s range at $197.25 and the low of Tuesday’s range at $194.45. Resistance will lie at the high of yesterday’s range at $199.06, followed by $200.05, $201.90, and the 200 day SMA at $202.55.
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**
HLF
COST
Economic Calendar
8:30 Weekly initial unemployment claims expected -2,000 to 270,000, previous +10,000 to 272,000
8:30 Revised Q4 non-farm productivity expected -3.0%, previous -3.0%
8:30 USDA weekly Export Sales
9:45 Revised Feb Markit services PMI expected +0.2 to 50.0, preliminary-Feb -3.4 to 49.8
10:00 Feb ISM non-manufacturing PMI expected -0.4 to 53.1
10:00 Jan factory orders expected +2.1%, Dec -2.9% and -0.8% ex-trans
10:45 Dallas Fed President Rob Kaplan delivers a speech
Notable Earnings Before Open
JOY: Joy Global – EPS Est. $.12, Rev Est. $531.91M
KR: Kroger – EPS Est. $.54, Rev Est. $26.28B
Notable Earnings After Close
AVGO: Broadcom – EPS Est. $2.29, Rev Est. $1.75B
