Friday October 28, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are relatively flat this morning and well off the lowest levels in pre market as markets await the Q3 GDP report. AMZN reported earnings yesterday after the market close and gave a disappointing holiday forecast which sparked selling which drove the stock lower by over -4%. Asian stocks closed mostly mixed.
Technicals
The SPY rejected the 100 day moving average in yesterday’s session and closed out on the lows. Support will lie at the low of yesterday’s range at $213.08, followed closely by $212.93, $212.76, the support pivot at $212.50, and $212.17. Resistance will lie at the 100 day moving average at $214.35, followed by the high of yesterday’s range at $214.62, then $214.98, $215.32, and the 50 day moving average at $215.64.
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**
$BHI
$ABBV
$MCK
$AMGN
Economic Calendar
8:30 Q3 GDP expected +2.5%
8:30 Q3 employment cost index expected +0.6%
10:00 Final-Oct University of Michigan U.S. consumer sentiment expected +0.3 to 88.2
Notable Earnings Before Open
ABBV: Abbvie – EPS Est. $1.21, Rev Est. $6.54B
COG: Cabot Oil & Gas – EPS Est. $(.04), Rev Est. $322.82M
CVX: Chevron – EPS Est. $.39, Rev Est. $31B
XOM: Exxon Mobil – EPS Est. $.60, Rev Est. $62.47B
HSY: Hershey – EPS Est. $1.18, Rev Est. $2.02B
Notable Earnings After Close
NONE
