Wednesday, July 20, 2016
Economic Calendar & Watch Lists 7/20/2016
Morning Notes
US Futures are moving higher this morning while European stocks trade higher by over +1% after strong earnings reports from MS and MSFT are leading the US market higher early. Strong, better than expected earnings also out of European companies Volkswagen AG and SAB SE are adding strength overseas. Asian stocks closed mostly mixed.
Technicals
The SPY traded in a constricted range on light volume throughout yesterday’s session and is gapping higher this morning. Support will lie at the high of Monday’s range at $216.60, followed by yesterday’s high at $216.23, yesterday’s low at $215.63, then $215.31 and $214.35. Resistance will lie only at the high of Fridays range at $217.01.
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**
$VRX
$NFLX
Economic Calendar
10:30 EIA Weekly Petroleum Status Report
Notable Earnings Before Open
ASML: ASML Holdings – EPS Est. $.87, Rev Est. $1.9B
ABT: Abbott – EPS Est. $.53, Rev Est. $5.24B
CP: Canadian Pacific – EPS Est. $1.56, Rev Est. $1.48B
HAL: Halliburton – EPS Est. $(0.19), Rev Est. $3.77B
ITW: Illinois Tool Works – EPS Est. $1.40, Rev Est. $3.41B
MS: Morgan Stanley – EPS Est. $.60, Rev Est. $8.34B
STJ: St Jude Medical – EPS Est. $1.06, Rev Est. $1.55B
TUP: Tupperware – EPS Est. $1.11, Rev Est. $559.91M
Notable Earnings After Close
AXP: American Express – EPS Est. $1.92, Rev Est. $8.31B
EBAY: eBay – EPS Est. $.42, Rev Est. $2.17B
FFIV: F5 Networks – EPS Est. $1.79, Rev Est. $495.29M
INTC: Intel – EPS Est. $.53, Rev Est. $13.54B
MAT: Mattel – EPS Est. $.55, Rev Est. $213.03M