Economic Calendar & Watch List 8/23/2016

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Tuesday, August 23, 2016

 

Economic Calendar & Watch Lists

 

Morning Notes

US Futures are tracking modestly higher this morning while European markets trade higher by nearly +1% after August Eurozone Markit PMI came in higher than expected while also expanding at the fastest pace in 7 months. Asian stocks closed mostly higher.

 

Technicals

SPY823

The SPY further consolidated throughout yesterday’s session which made for somewhat of a choppy market. Support will lie at the low of yesterday’s range at $217.83, followed by $217.74, the upper support pivot at $217.30, $217.02, $216.78, and $215.83. Resistance will lie at the high of yesterday’s range at $218.80, followed by $218.90, and all time highs at $219.50.

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**

$BBY

$DATA

$ZOES

 

Economic Calendar

9:45 Prelim-August Markit U.S. manufacturing PMI expected -0.2 to 52.7

10:00 July new home sales expected -2.0% to 580K

10:00 August Richmond Fed manufacturing index expected -4 to 6

1:00 Treasury auctions $26 billion 2-year T-notes

 

Notable Earnings Before Open

BBY: Best Buy – EPS Est. $.42, Rev Est. $8.42B

TOL: Toll Brothers – EPS Est. $.63, Rev Est. $1.25B

 

Notable Earnings After Close

NONE

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