Thursday March 16, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are moving higher this morning on follow through from yesterday’s sharp move after the FOMC announced the expected interest rate hike of 0.25%. European markets are trading at yearly highs also on the FOMC announcement along with election results out of the Netherlands. Asian markets closed higher.
Technicals
The SPY surged higher in late trading in yesterday after the FOMC announced the widely expected 0.25% interest rate hike. Support will lie at the new near term support pivot at $237.29, followed by $236.19, $235.74, $235.41, and $235.09. Resistance will lie at the high of yesterday’s range at $239.44, followed by $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**
$ORCL
$TSLA
Economic Calendar
8:30 Weekly initial unemployment claims expected -3,000 to 240K
8:30 February housing starts expected +1.4% to 1.263M
8:30 USDA weekly Export Sales
8:30 March Philadelphia Fed business outlook survey expected -13.3 to 30
10:00 January JOLTS job openings expected +61,000 to 5.562M
Notable Earnings Before Open
Dollar General (DG) – EPS Est. $1.41
Notable Earnings After Close
Adobe Systems (ADBE) – EPS Est. $0.87
