Wednesday February 1, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking slightly higher this morning led by AAPL reporting better than expected quarterly results. European stocks are trading higher by nearly +1% after Eurozone PMI grew at the fastest pace in 3 years. Markets are awaiting the results of the FOMC 2 day policy meeting which will be announced at 2 PM EST. Asian stocks closed mostly higher.
Technicals
The SPY initially drifted lower throughout the early hours of yesterday’s session and then closed out the day on the highs. Support will lie at the former descending resistance at $226.80, followed by the low of yesterday’s range at $226.32, then $225.27, the recent support pivot at $224.89, and the 50 day moving average at $224.82. Resistance will lie at the high of yesterday’s range at $227.60, followed by $228.20, $228.76, $229.59, and record highs 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**
Economic Calendar
8:15 Jan ADP employment change expected +167K
9:45 Revised Jan Markit U.S. manufacturing PMI
10:00 Jan ISM manufacturing PMI expected +0.5 to 55
10:00 Dec construction spending expected +0.2%
10:30 EIA Weekly Petroleum Status Report
2:00 FOMC minutes results
Notable Earnings Before Open
Altria Group (MO) – EPS Est. $0.67
Anthem (ANTM) – EPS Est. $1.61
Johnson Controls (JCI) – EPS Est. $0.52
Marathon Petroleum (MPC) – EPS Est. $0.26
Tupperware Brands (TUP) – EPS Est. $1.3
Notable Earnings After Close
Cirrus Logic, Inc. (CRUS) – EPS Est. $1.62
Facebook (FB) – EPS Est. $1.30
Tractor Supply (TSCO) – EPS Est. $0.91
