Friday, July 15, 2016
Economic Calendar & Watch Lists 7/15/2016
Morning Notes
US Futures are relatively flat to slightly lower this morning and European stocks are trading lower by just under -1% after a strong week of gains. China posted better than expected Q2 GDP, new lending, and industrial production which pushed Asian stocks higher.
Technicals
The SPY put in more highs early in yesterday’s session and then drifted slightly lower into the close. Support will lie at the low of yesterday’s range at $215.66, followed by $215.45, $215.35, the former ascending resistance at $213.50 – $213.70 and then $213.43. Resistance will lie only at the high of yesterday’s range at $216.87.
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
$NFLX
Economic Calendar
8:30 June retail sales expected +0.1% and +0.4% ex autos
8:30 Jun CPI expected +0.2% m/m and +1.1% y/y
8:30 Jul Empire manufacturing survey general business conditions expected -1.01 to 5.00
9:15 June industrial production expected +0.3%
10:00 May business inventories expected +0.1%
10:00 Prelim-Jul University of Michigan U.S. consumer sentiment index expected -0.2 to 93.3
1:00 San Francisco Fed President John Williams speaks
1:15 Minneapolis Fed President Neel Kashkari speaks
Notable Earnings Before Open
C: Citigroup – EPS Est. $1.09, Rev Est. $17.43B
INFY: Infosys Limited – EPS Est. $.23, Rev Est. $2.55B
WFC: Wells Fargo – EPS Est. $1.02, Rev Est. $22.17B
PNC: PNC Financial Services – EPS Est. $1.75, Rev Est. $3.82B
USB: US Bancorp – EPS Est. $.81, Rev Est. $5.19B
Notable Earnings After Close
NONE