Friday, July 22, 2016
Economic Calendar & Watch Lists 7/22/2016
Morning Notes
US Futures are pointing slightly higher this morning after positive earnings results were reported last night bumping the market higher early. European stocks are also trading slightly higher after Vodafone PLC reported better than expected earnings results but gains were limited by Eurozone manufacturing numbers coming in lower than expected due to the Brexit decision last month. Asian stocks closed lower.
Technicals
The SPY showed weakness into the late afternoon during yesterday’s session on higher volume than the prior 3 days of consolidation. Support will lie at the low of yesterday’s range at $215.75, followed closely by $215.63, $215.31, and $214.35. Resistance will lie at the high of yesterday’s range at $217.22, followed by Wednesday’s high at $217.37.
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**
$SKX
$SWKS
$SBUX
$PBYI
$PYPL
Economic Calendar
9:45 Preliminary-Jul Markit U.S. manufacturing PMI expected +0.2 to 51.5
Notable Earnings Before Open
AAL: American Airlines – EPS Est. $1.6, Rev Est. $10.31B
GE: General Electric – EPS Est. $.46, Rev Est. $31.82B
HON: Honeywell – EPS Est. $1.64, Rev Est. $10.13B
TXT: Textron – EPS Est. $.63, Rev Est. $3.37B
VFC: V.F. Corp – EPS Est. $.34, Rev Est. $2.53B
WFT: Weatherford – EPS Est. $(.43) Rev Est. $1.43B
WHR: Whirlpool – EPS Est. $3.35, Rev Est. $5.13B
Notable Earnings After Close
NONE
