Wednesday November 2, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are slightly lower this morning while European markets trade lower by nearly -1% as crude drifts lower by -1.7% as stockpiles increased over the last week. Asian stocks closed predominantly lower.
Technicals
The SPY traded sharply lower throughout yesterday’s session breaking down through key support pivots. Support will lie at the low of yesterday’s range at $209.60, followed by the 200 day moving average at $207.97. Resistance will lie at the recent support pivot at $212.50, followed by the high of yesterday’s range at $212.99, then $213.19, $213.93, and the 100 day moving average at $214.37.
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**
$BABA
$AGN
Economic Calendar
8:15 ADP Employment Change Est. 165K
10:30 Crude Inventories
2:00 FOMC Rate Decision
Notable Earnings Before Open
BABA: Alibaba – EPS Est. $.70, Rev Est. $5.13B
AGN: Allergan – EPS Est. $3.57, Rev Est. $3.74B
ANTM: Anthem – EPS Est. $2.49, Rev Est. $20.74B
YELP: Yelp! – EPS Est. $(.03), Rev Est. $182.83M
Notable Earnings After Close
AIG: American International Group – EPS Est. $1.21, Rev Est. $11.74B
FSLR: First Solar – EPS Est. $.77, Rev Est. $966.66M
FIT: Fit Bit – EPS Est. $.19, Rev Est. $503.5M
GNK: Genco Shipping – EPS Est. $(5.22), Rev Est. $35.5M
GDDY: Go Daddy – EPS Est. $.03, Rev Est. $469.97M
QCOM: Qualcomm – EPS Est. $1.12, Rev Est. $5.82B
EYES: Second Sight Medical – EPS Est. $(.16), Rev Est. $2.36M
TTWO: Take Two Interactive – EPS Est. $.31, Rev Est. $403.35M
X: US Steel – EPS Est. $.73, Rev Est. $NA