Wednesday March 8, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are drifting slightly lower this morning while European stocks also trade in the negative by -0.14% as markets await today’s ADP jobs report which is estimated to have added 190K jobs. The price of crude is lower this morning by nearly -1% after API data released yesterday showed a sharp jump of over 11M barrels for last week. Asian stocks closed mostly mixed.
Technicals
The SPY traded lower for the fourth consecutive session in yesterday’s trading. Near term support will lie at the low of yesterday’s session at $236.76, followed by $236.01, $235.41, $235.09, and $233.95. Resistance will lie at the high of yesterday’s range at $237.77, followed by $238.12, $238.61, $239.57, and record highs at $240.32.
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 Feb ADP employment change expected +189K
8:30 Revised Q4 non-farm productivity expected +1.5%
10:00 Final January wholesale inventories expected unrevised at -0.1%
10:30 EIA Weekly Petroleum Status Report
Notable Earnings Before Open
Children’s Place (PLCE) – EPS Est. $1.59
Call Ciena (CIEN) – EPS Est. $0.29
Express (EXPR) – EPS Est. $0.29
Notable Earnings After Close
United Natural Foods (UNFI) – EPS Est. $0.50
