Friday April 29, 2016
Economic Calendar & Watch Lists 4/29/2016
Morning Notes
US Futures are slightly lower this morning while European stocks trade sharply lower amidst weakness in Travel stocks and banks. Asian markets closed predominantly lower.
Technicals
The SPY rejected macro descending resistance again and sold off on accelerated volume in yesterday’s session. Support will lie at the low of yesterday’s range at $206.96, followed by $206.84, and $206.25. Resistance will lie at the high of yesterday’s range at $209.76, followed closely by the descending macro resistance at $210, and then $209.81.
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**
$LNKD
$EXPE
$BIDU
$MOH
Economic Calendar
8:30 Dallas Fed President Robert Kaplan speaks
8:30 Mar personal spending expected +0.2%, Feb +0.1%
8:30 Mar PCE deflator expected +0.1% m/m and +0.8% y/y
8:30 Q1 employment cost index expected +0.6%
9:00 Apr Milwaukee ISM, Mar +2.57 to 57.78
9:45 Apr Chicago PMI expected -0.8 to 52.8
10:00 Final-April University of Michigan U.S. consumer sentiment index expected +0.3 to 90.0
10:00 U.S. retail sales benchmark revisions
Notable Earnings Before Open
COG: Cabot Oil & Gas – EPS Est. $(.13), Rev Est. $265.83M
CVX: Chevron Corp – EPS Est. $(.18), Rev Est. $21.43B
RCL: Royal Caribbean – EPS Est. $.31, Rev Est. $1.91B
STX: Seagate Technology – EPS Est. $.38, Rev Est. $2.61B
MNST: Monster Energy – EPS Est. $.75, Rev Est. $659.51M
XOM: Exxon Mobil – EPS Est. $.28, Rev Est. $45.43B
Notable Earnings After Close
NONE