Wednesday January 25, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are trading at new all time highs while European stocks trade higher by over +1% on a positive global economy after many comments and executive actions by new President Donald Trump. The price of crude is trading lower by roughly -1% after weekly API data showed a rise in inventories. Asian stocks closed mostly higher after better than expected Japanese trade data.
Technicals
The SPY pivoted higher out of its recent consolidation on increased volume throughout yesterday’s session. Support will lie at the former descending resistance at $227, followed by the low of yesterday’s range at $226.27, then $225.27 and the recent support pivot at $224.89. Resistance will lie at the high of yesterday’s range at $228.08, followed by 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**
STX
Economic Calendar
9:00 November FHFA house price index expected +0.4%
10:30 EIA Weekly Petroleum Status Report
Notable Earnings Before Open
Boeing (BA) – EPS Est. $2.35
Commvault Systems (CVLT) – EPS Est. $0.26
Freeport-McMoran (FCX) – EPS Est. $0.33
Norfolk Southern (NSC) – EPS Est. $1.36
United Technologies(UTX) – EPS Est. $1.56
Notable Earnings After Close
AT&T (T) – EPS Est. $0.66
Citrix Systems (CTXS) – EPS Est. $1.50
F5 Networks (FFIV) – EPS Est. $1.94
Las Vegas Sands (LVS) – EPS Est. $0.66
Qualcomm (QCOM) – EPS Est. $1.17
United Rentals (URI) – EPS Est. $2.24
Western Digital (WDC) – EPS Est. $2.11
