Tuesday November 29, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are modestly higher this morning while European stocks also trade slightly higher as uncertainty looms ahead of the OPEC decision that comes tomorrow. The price of crude is lower this morning by nearly -2% ahead of tomorrow’s results. Asian stocks closed mostly mixed.
Technicals
The SPY consolidated throughout yesterday’s session after posting record highs on Friday. Support will lie at the low of yesterday’s range at $220.36, followed by $219.75, $219, $218.29, and $217.92. Resistance will lie at the high of yesterday’s range at $221.48, followed closely by record highs at $221.56.
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**
$TIF
$MNK
Economic Calendar
8:30 Revised Q3 GDP expected +3.0%
9:00 Sep S&P CoreLogic composite-20 home price index expected +0.4%
10:00 November consumer confidence expected +2.7
Notable Earnings Before Open
Mallinckrodt (NYSE: MNK) – consensus EPS $2.01
Tiffany & Co. (NYSE: TIF) – no Street consensus
Notable Earnings After Close
Autodesk (Nasdaq: ADSK) – consensus loss $0.24
Splunk (Nasdaq: SPLK) – consensus EPS $0.08
