Economic Calendar & Watch List 1/5/2017

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Thursday January 5, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are drifting lower this morning while European stocks trade slightly higher as weakness in the retail sector is weighing on markets after Macy’s (M) and Kohl’s (KSS)  cut their forecast for 2017. Asian stocks closed mostly mixed.

 

Technicals

The SPY held the pivot low it put in on the last trading day of 2016 and has managed to move back higher the last 2 days. Support will lie at the low of yesterday’s range at $225.62, followed by the recent support pivot at $224.89, then $223.88, $223.73, and $221.44. Resistance will lie at the high of yesterday’s range at $226.75, followed by $227.81, and all time highs at $228.34.

 

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

$M

$HALO

 

Economic Calendar

8:15 December ADP employment change expected +175

8:30 Weekly initial unemployment claims expected -5,000 to 260

9:45 Revised December Markit services PMI

10:00 December ISM non-manufacturing index expected -0.5 to 56.7

11:00 EIA Weekly Petroleum Status Report

 

Notable Earnings Before Open

Constellation Brands (STZ) – EPS Est. $1.71

Monsanto (MON) – EPS Est. $0.01

Walgreens Boots Alliance (WBA) – EPS Est. $1.10

 

Notable Earnings After Close

NONE

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