Tuesday February 28, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are relatively flat this morning as markets await President Trump’s speech to Congress and tax and healthcare reform later this evening. The retail sector is indicated lower this morning led by Target after a miss on Q4 eps as well as a forecast well below expectations. Asian stocks closed mostly mixed.
Technicals
The SPY posted more new record highs throughout yesterday’s session and closed out the day just off intraday highs. Near term support will lie at the low of yesterday’s range at $236.35, followed by $235.41, $235.09, $233.95, $233.85, $233.39, and $232.16. Resistance will lie only at the high of yesterday’s range at $237.31.
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**
WDAY
PRGO
Economic Calendar
8:30 Revised Q4 GDP expected +2.1%
8:30 January wholesale inventories expected +0.4%
9:00 December S&P CoreLogic composite-20 home price index expected +0.7%
9:45 February Chicago PMI expected +2.7 to 53
10:00 February Conference Board U.S. consumer confidence index expected -0.8 to 111
10:00 February Richmond Fed manufacturing index expected -2 to 10
3:00 Philadelphia Fed President Patrick Harker speaks
3:30 San Francisco Fed President John Williams speaks
Notable Earnings Before Open
American Eagle Outfitters (AEO) – EPS Est. $0.38
Best Buy (BBY) – EPS Est. $1.67
Dollar Tree (DLTR) – EPS Est. $1.32
Lowe’s Cos. (LOW) – EPS Est. $0.79
Office Depot (ODP) – EPS Est. $0.10
Notable Earnings After Close
Juno Therapeutics (JUNO) – EPS Est. -$0.61
Shake Shack (SHAK) – EPS Est. $0.09
Box (BOX) – EPS Est. -$0.14
