Thursday October 20, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are relatively flat this morning while European stocks trade slightly higher as markets await the ECB meeting later today and whether or not ECB president Mario Draghi will amend the central bank’s recent QE program. Asian stocks closed mostly higher.
Technicals
The SPY traded broadly sideways throughout yesterday’s session and closed back above the 100 day moving average. Support will lie at the low of yesterday’s range at $213.60, followed by $213.27, the support pivot at $212.50, then $212.17, $211.21, and $210.78. Resistance will lie at the high of yesterday’s range at $214.64, followed closely by $214.69, then $215.74, $215.99, and the 50 day moving average at $216.17.
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**
$EBAY
$VZ
Economic Calendar
8:30 Weekly initial unemployment claims expected +4,000 to 250,000
8:30 October Philadelphia Fed business outlook survey expected -7.5 to 5.3
8:30 USDA weekly Export Sales
10:00 September existing home sales expected +0.4% to 5.35M
10:00 ep leading indicators expected +0.2%
Notable Earnings Before Open
ALK: Alaska Air – EPS Est. $2.05, Rev Est. $1.55B
AAL: American Airlines – EPS Est. $1.68, Rev Est. $10.44B
DNKN: Dunkin Brands – EPS Est. $.58, Rev Est. $231.34M
FITB: Fifth Third Bancorp – EPS Est. $.41, Rev Est. $1.65B
IMAX: Imax – EPS Est. $0.00, Rev Est. $77.28M
ITW: Illinois Tool Works – EPS Est. $1.49, Rev Est. $3.49B
TXT: Textron – EPS Est. $.66, Rev Est. $3.43B
VZ: Verizon – EPS Est. $.99, Rev Est. $31.14B
Notable Earnings After Close
ETFC: E*Trade – EPS Est. $.38, Rev Est. $466.25M
MXIM: Maxim Integrated – EPS Est. $.47, Rev Est. $560.17M
MSFT: Microsoft – EPS Est. $.68, Rev Est. $21.54B
SLB: Schlumberger – EPS Est. $.22, Rev Est. $7.15B
SKX: Skechers – EPS Est. $.46, Rev Est. $952.57M
