Economic Calendar & Watch List 11/17/2016

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Thursday November 17, 2016

Economic Calendar & Watch Lists

 

Morning Notes

US Futures are unchanged along with European stocks as markets await Fed Chair Janet Yellen’s testimony to congress. Crude is trading higher by over +1% after Russia and OPEC will meet to discuss potential production cutting measures. Asian stocks closed mostly mixed.

 

Technicals

spy1117

The SPY traded in a narrow range throughout yesterday’s session and managed to hold its recent gains. Support will lie at the low of yesterday’s range at $217.42, followed by the support pivot at $217.30, then $216.80. Resistance will lie at the high of yesterday’s range at $218.14, followed by $218.28, $218.94, $219.22, and all time highs at $219.60.

 

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**

 

Economic Calendar

8:30 Weekly initial unemployment claims expected +3,000 to 257,000

8:30 October housing starts expected +10.7% to 1.159M

8:30 October CPI expected +0.4% m/m

8:30 November Philadelphia Fed business outlook survey expected -2.1

10:00 Fed Chair Janet Yellen speaks on the economic outlook

 

Notable Earnings Before Open

BBY: Best Buy – EPS Est. $.47, Rev Est. $8.84B

WMT: Wal mart – EPS Est. $.96, Rev Est. $118.53B

SJM: JM Smucker – EPS Est. $1.94, Rev Est. $2B

 

Notable Earnings After Close

AMAT: Applied Materials – EPS Est. $.65, Rev Est. $3.31B

ROST: Ross Stores – EPS Est. $.56, Rev Est. $2.96B

GPS: Gap Stores – EPS Est. $.60, Rev Est. $3.77B

CRM: Sales Force – EPS Est. $.21, Rev Est. $2.12B

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