Monday October 24, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are pointing modestly higher this morning while European markets are trading at nearly 6 month highs. AT&T has announced its plan to acquire Time Warner for $85B. Asian stocks closed mostly higher.
Technicals
The SPY traded higher throughout Friday’s session closing out just off the intraday highs. Support will lie at the low of Friday’s range at $212.76, followed by the recent support pivot at $212.50, then $212.17, $211.21, and $210.78. Resistance will lie at the high of Friday’s range at $214.08, followed by the 100 day moving average at $214.23, then $214.64, $214.69, $215.74, and the 50 day moving average at $216.
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**
$VFC
$TMUS
Economic Calendar
8:30 September Chicago Fed national activity index expected +0.42 to -0.13
9:45 October Markit manufacturing PMI expected unchanged at 51.5
Notable Earnings Before Open
BEAV: B/E Aerospace – EPS Est. $.80, Rev Est. $711.41M
VFC: VF Corp – EPS Est. $1.15, Rev Est. $3.66B
TMUS: T Mobile – EPS Est. $.24, Rev Est. $9.44B
Notable Earnings After Close
ALSN: Allison Transmission – EPS Est. $.24, Rev Est. $433.79M
ZION: Zions Bancorp – EPS Est. $.50, Rev Est. $603.84M