Thursday February 23, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are relatively flat to slightly higher along with European stocks as energy producing stocks show strength. The price of crude is trading higher by +1.4% after API data showed inventories fell sharply last week. US stocks gains were muted after the FOMC released their minutes late yesterday hinting towards another imminent rate hike. Asian stocks closed predominantly lower.
Technicals
The SPY traded on an inside day throughout yesterday’s session which made for slow, choppy markets. Near term support will lie at the low of yesterday’s range at $235.83, followed by $235.51, $235.09, $233.95, $233.85, and $233.39. Resistance will lie at the high of yesterday’s range at $236.54, followed by the record high of $236.69.
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**
$TSLA
$CTRP
$SQ
Economic Calendar
8:30 Weekly initial unemployment claims expected +1,000 to 240K
8:30 January Chicago Fed national activity index expected -0.17 to -0.03
9:00 December FHFA house price index expected +0.5%
11:00 February Kansas City Fed manufacturing activity expected unchanged at 9
11:00 EIA Weekly Petroleum Status Report
Notable Earnings Before Open
Apache Corp. (APA) – EPS Est. $0.07
Cemtrex (CETX) – EPS Est. $0.09
Chesapeake Energy (CHK) – EPS Est. $0.07
IMAX Corp. (IMAX) – EPS Est. $0.21
Intercept Pharma (ICPT) – EPS Est. -$3.74
Kohl’s Corp. (KSS) – EPS Est. $1.33
LendingTree (TREE) – EPS Est. $0.78
Wayfair (W) – EPS Est. -$0.50
Notable Earnings After Close
Baidu.com (BIDU) – EPS Est. $0.86
BioMarin Pharma (BMRN) – EPS Est. -$0.38
Brocade Communications (BRCD) – EPS Est. $0.26
Herbalife (HLF) – EPS Est. $0.97
Hewlett Packard Enterprise (HPE) – EPS Est. $0.44
Intuit (INTU) – EPS Est. $0.36
Nordstrom (JWN) – EPS Est. $1.16
Radius Health (RDUS) – EPS Est. -$1.34
Splunk (SPLK) – EPS Est. $0.17
Stamps.com (STMP) – EPS Est. $2.36
Zoe’s Kitchen, Inc. (ZOES) – EPS Est. -$0.06