Tuesday May 2, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are trading slightly lower this morning ahead of the FOMC beginning their 2 day policy meeting. European stocks are trading slightly higher ahead of Sunday’s French Presidential election. China’s Shanghai was under pressure after renewed fears of the government’s crackdown on leverage regulations. The remainder of Asian stocks closed mostly higher.
Technicals
The SPY traded predominantly sideways throughout yesterday’s session and closed flat on the day. Support will lie at low of yesterday’s range at $238.19, followed by $237.93, $237.81, $237.41, $236.61, and the recent pivot point at $236.30 which also coincides with the 20EMA at $236.31. Further, the 50SMA lies at $236.19 followed by the former descending resistance at $236. Resistance will lie at the high of yesterday’s range at $239.17, followed by $239.53, $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**
$AAPL
Economic Calendar
NONE
Notable Earnings Before Open
Aetna (AET) – EPS Est. $2.37
Altria Group (MO) – EPS Est. $0.74
Archer Daniels Midland (ADM) – EPS Est. $0.62
BP plc (BP) – EPS Est. $0.39
CVS Health (CVS) – EPS Est. $1.10
Coach (COH) – EPS Est. $0.44
ConocoPhillips (COP) – EPS Est. $0.01
Hilton Worldwide (HLT) – EPS Est. $0.28
Lumber Liquidators (LL) – EPS Est. -$0.22
MasterCard (MA) – EPS Est. $0.95
Merck (MRK) – EPS Est. $0.83
Pfizer (PFE) – EPS Est. $0.67
The Mosaic Company (MOS) – EPS Est. N/A
Notable Earnings After Close
Akamai Technologies (AKAM) – EPS Est. $0.67
Anadarko Petroleum (APC) – EPS Est. -$0.22
Apple (AAPL) – EPS Est. $2.02
Devon Energy (DVN) – EPS Est. $0.41
First Solar (FSLR) – EPS Est. -$0.12
Gilead Sciences (GILD) – EPS Est. $2.27
GoDaddy (GDDY) – EPS Est. -$0.06
Weight Watchers (WTW) – EPS Est. -$0.04
Western Union (WU) – EPS Est. $0.40