Thursday April 7, 2016
Economic Calendar & Watch Lists 4/7/2016
Morning Notes
US futures are modestly lower this morning while European stocks are trading lower after comments from ECB president Mario Draghi warned about the future outlook about the global economy. Asian markets closed mixed after Japan’s Nikkei broke a 7 day losing streak.
Technicals
The SPY surged higher in yesterday’s session closing out on the highs. Support will lie at the critical pivot at $205.25, followed by the low of yesterday’s range at $203.98, $203.89, and $202.40. Resistance will lie at the high of yesterday’s range at $206.49, followed by $207.07, and $207.14.
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**
$WYNN
$VRX
Economic Calendar
8:30 Weekly initial unemployment claims expected -6,000 to 270,000
8:30 USDA weekly Export Sales
3:00 Feb consumer credit expected +14.9B
Notable Earnings Before Open
KMX: CarMax – EPS Est. $.70, Rev Est. $3.68B
RAD: Rite Aid – EPS Est. $.06, Rev Est. $8.4B
CAG: ConAgra Foods – EPS Est. $.58, Rev Est. $2.87B
Notable Earnings After Close
NONE
