Tuesday January 31, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are drifting slightly lower this morning while European stocks trade higher on stronger than expected Q4 Eurozone GDP. The Fed begins their 2 day policy meeting today and will release the results during tomorrow’s session. Asian stocks closed mostly lower.
Technicals
The SPY traded sharply lower throughout yesterday’s session but managed to reclaim early losses into the end of the day. Support will lie at the low of yesterday’s session at $226.41, $226.27, $225.27, the recent support pivot at $224.89, and the 50 day moving average at $224.62. Resistance will lie at the high of yesterday’s range at $228.20, followed by $228.76, $229.59, and record highs at $22.71.
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**
$UPS
$HOG
$TEVA
Economic Calendar
8:30 Q4 employment cost index expected +0.6%
9:00 November S&P CoreLogic composite-20 home price index expected +0.6%
9:30 FOMC begins 2 day policy meeting
9:45 January Chicago PMI expected +1.1 to 55
10:00 January Conference Board U.S. consumer confidence expected -0.9 to 112.8
Notable Earnings Before Open
Aetna (AET) – EPS Est. $1.44
Coach (COH) – EPS Est. $0.74
Eli Lilly & Co. (LLY) – EPS Est. $0.97
ExxonMobil (XOM) – EPS Est. $0.70
Harley-Davidson (HOG) – EPS Est. $0.31
MasterCard (MA) – EPS Est. $0.86
Pfizer (PFE) – EPS Est. $0.50
Sprint Corp. (S) – EPS Est. N/A
UPS (UPS) – EPS Est. $1.69
Under Armour (UA) – EPS Est. $0.25
