Wednesday, August 10, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are slightly higher this morning as European markets are trading lower, led by a decline in energy producing stocks as the price of crude oil dips nearly -1%. Asian stocks closed mostly lower.
Technicals
The SPY tested new highs in yesterday’s session to then edge back lower towards the close. Support will lie at the low of yesterday’s range at $217.80, followed closely by $217.74, the upper support pivot at $217.30, then $217.07, $216.78, and $215.83. Resistance will lie only at the high of yesterday’s range at $218.76.
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**
$KORS
$YELP
$PRGO
$RL
Economic Calendar
10:00 Jun JOLTS job openings expected +88,000 to 5.588M
10:30 EIA Weekly Petroleum Status Report
1:00 Treasury auctions $23B of 10-year T-notes
2:00 Jul monthly budget statement expected -$124.0B
Notable Earnings Before Open
JD: JD.com – EPS Est. $(.07), Rev Est. $9.81B
KORS: Michael Kors – EPS Est. $.74, Rev Est. $953.14M
PRGO: Perrigo – EPS Est. $2.00, Rev Est. $1.44B
RL: Ralph Lauren – EPS Est. $.89, Rev Est. $1.53B
WEN: Wendy’s – EPS Est. $.09, Rev Est. $367.44M
Notable Earnings After Close
BUFF: Blue Buffalo – EPS Est. $.17, Rev Est. $279.25M
RDEN: Elizabeth Arden – EPS Est. $(.78), Rev Est. $193.75M
SHAK: Shake Shack – EPS Est. $.13, Rev Est. $63.21M
