Thursday November 10, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are pointing higher this morning led by the banks and healthcare sectors after a Trump victory means less regulatory oversight. European stocks are trading higher also led by their banking sector on speculation that Trump administration will look to repeal the stringent rules put into effect by President Obama. Asian markets closed mostly higher.
Technicals
The SPY surged higher throughout yesterday’s session and closed just off the intraday highs. Support will lie at the 100 day moving average at $214.61, followed by the 50 day moving average at $214.50, then the support pivot at $212.50. Resistance will lie at the resistance pivot at $216.80, followed by the high of yesterday’s range at $217.10, then the $217.30 pivot, $217.53 and $218.15.
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**
$KSS
$PRGO
Economic Calendar
8:30 Weekly initial unemployment claims expected -5,000 to 260,000
8:30 USDA weekly Export Sales
9:15 St. Louis Fed President James Bullard
2:00 October monthly budget statement expected -$75B
Notable Earnings Before Open
500.com Ltd. (NYSE: WBAI) – no Street consensus
58.com (NYSE: WUBA) – consensus loss $0.08
Kohl’s Corp. (NYSE: KSS) – consensus EPS $0.70
Perrigo (NYSE: PRGO) – consensus EPS $1.58
SodaStream (Nasdaq: SODA) – consensus EPS $0.23
Macy’s (NYSE: M) – consensus EPS $0.41
Notable Earnings After Close
Disney (NYSE: DIS) – consensus EPS $1.19
Michael Kors (NYSE: KORS) – consensus EPS $0.88
Nordstrom (NYSE: JWN) – consensus EPS $0.52
