Thursday, July 14, 2016
Economic Calendar & Watch Lists 7/14/2016
Morning Notes
US Futures are tracking sharply higher this morning while European markets are trading higher by over +1.2% on continued chatter of global central banks potentially boosting economic stimulus to fortify economic growth. Asian stocks closed predominantly higher.
Technicals
The SPY initially pushed higher early in yesterday’s session and then drifted back lower into the afternoon and the close. Support will lie at the low of yesterday’s range at $214.35, followed by former light macro ascending resistance at $213.50 – $213.70, the low of Tuesday at $213.43, and the high of Friday at $212.94. There is no current resistance points at this time.
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**
$YUM
$WYNN
Economic Calendar
8:30 Weekly initial unemployment claims expected +11,000 to 265,000
8:30 Jun PPI final demand expected +0.3% m/m and -0.1% y/y
8:30 USDA weekly Export Sales
11:00 Treasury announces amount of 10-year TIPS
11:15 Atlanta Fed President Dennis Lockhart speaks
Notable Earnings Before Open
DAL: Delta Airlines – EPS Est. $1.48, Rev Est. $10.51B
JPM: JPMorgan – EPS Est. $1.43, Rev Est. $24.14B
BLK: BlackRock – EPS Est. $4.79, Rev Est. $2.81B
PGR: Progressive – EPS Est. $.32, Rev Est. $5.75B
Notable Earnings After Close
NONE
