Thursday April 27, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are relatively flat this morning after President Trump revealed that a complete withdrawal from NAFTA would not occur. European stocks trade lower by -0.40% ahead of the ECB meeting today where markets will look for further insight into their current QE program. The price of crude is trading lower by -1% placing pressure on energy producing stocks. Asian stocks closed mostly mixed.
Technicals
The SPY attempted to push higher initially yesterday then slipping lower throughout the remainder of the session and closed out on the lows. Support will lie at low of yesterday’s range at $238.35, followed by Tuesday’s low at $237.81, then the high of Monday’s range at $237.41, the former recent descending resistance at $236.30, which also coincides with the recent pivot point, providing a strong support level. Further, the 50SMA at $235.95, the 20EMA at $235.60, and the high of Friday’s range at $235.31. Resistance will lie at the high of yestederday’s range at $239.53, 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**
$EXAS
$PYPL
Economic Calendar
8:30 March durable goods orders expected +1.3%
8:30 March wholesale inventories expected +0.3%
8:30 USDA weekly Export Sales
10:00 March pending home sales expected -0.5%
11:00 April Kansas City Fed manufacturing activity expected -3
Notable Earnings Before Open
AbbVie (ABBV) – EPS Est. $1.26
Alexion Pharma (ALXN) – EPS Est. $1.23
Ally Financial (ALLY) – EPS Est. $0.49
American Airlines (AAL) – EPS Est. $0.55
American Electric Power (AEP) – EPS Est. $0.98
AstraZeneca (AZN) – EPS Est. N/A
Bristol-Myers Squibb (BMY) – EPS Est. $0.74
Celgene (CELG) – EPS Est. $1.64
Cliffs Natural Resources (CLF) – EPS Est. $0.15
Comcast (CMCSA) – EPS Est. $0.44
Dow Chemical (DOW) – EPS Est. $0.98
Ford Motor (F) – EPS Est. $0.36
Johnson Controls (JCI) – EPS Est. $0.49
L-3 Communications (LLL) – EPS Est. $1.81
MGM Resorts (MGM) – EPS Est. $0.29
Raytheon (RTN) – EPS Est. $1.61
Southwest Airlines (LUV) – EPS Est. $0.63
UPS (UPS) – EPS Est. $1.29
Under Armour (UA) – EPS Est. -$0.04
Notable Earnings After Close
Alphabet (GOOG) – EPS Est. $7.40
Amazon.com (AMZN) – EPS Est. $1.13
Baidu.com (BIDU) – EPS Est. $0.86
Expedia (EXPE) – EPS Est. $0.07
GoPro (GPRO) – EPS Est. -$0.44
Intel (INTC) – EPS Est. $0.65
Microsoft (MSFT) – EPS Est. $0.70
Starbucks Coffee (SBUX) – EPS Est. $0.45
Western Digital (WDC) – EPS Est. $2.13
