Friday January 27, 2017
Economic Calendar & Watch List
US Futures are relatively flat to slightly lower while European stocks trade lower on poor results out of UBS, dragging European banking stocks lower. UBS reported margins in their wealth management division had fallen for the third consecutive quarter. Asian stocks closed mostly higher.
The SPY consolidated throughout yesterday’s session after its strong rally on Tuesday and Wednesday. Support will lie at the low of yesterday’s range at $229.01, followed by $228.51, $228.34, and $228.01. Resistance will only lie at the high of yesterday’s range at $229.71.
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**
8:30 Q4 GDP expected +2.2%
8:30 December durable goods orders expected +2.6%
10:00 Final January University of Michigan U.S. consumer sentiment expected unchanged at 98.1
Notable Earnings Before Open
AbbVie (ABBV) – EPS Est. $1.19
American Airlines (AAL) – EPS Est. $0.92
Chevron (CVX) – EPS Est. $0.64
General Dynamics (GD) – EPS Est. $2.52
Honeywell (HON) – EPS Est. $1.74
Notable Earnings After Close