Wednesday May 3, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking moderately lower this morning after a weak quarterly earnings report from AAPL as iphone sales slowed. Markets today are awaiting the outcome of today’s FOMC minutes which are to be released at 2 EST. European markets are trading relatively flat as they approach the last French Presidential candidate debate later today. Asian markets closed mostly mixed.
Technicals
The SPY traded on an inside range day throughout yesterday’s session resulting in quiet trade. Support will lie at the low of yesterday’s range at $238.30, followed by $238.19, $237.93, $237.81, $237.41, $236.61, the 20EMA at $236.61 and the recent pivot point at $236.30 which also coincides with the 50SMA at $236.27. Resistance will lie at the high of yesterday’s range at #238.98, followed by $239.17, $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**
$TWLO
$AKAM
$PRGO
Economic Calendar
8:15 April ADP employment change expected +178K
9:45 Revised April Markit services PMI expected unrevised at 52.5
10:00 April ISM non-manufacturing PMI expected +0.6
10:30 EIA Weekly Petroleum Status Report
2:00 FOMC Minutes
Notable Earnings Before Open
Clorox (CLX) – EPS Est. $1.30
Humana (HUM) – EPS Est. $2.49
Sprint Corp. (S) – EPS Est. N/A
Time Warner (TWX) – EPS Est. $1.46
Yum! Brands (YUM) – EPS Est. $0.60
Notable Earnings After Close
AIG (AIG) – EPS Est. $1.15
Cirrus Logic, Inc. (CRUS) – EPS Est. $0.70
Facebook (FB) – EPS Est. $1.12
Fitbit (FIT) – EPS Est. -$0.19
MetLife (MET) – EPS Est. N/A
Tableau Software (DATA) – EPS Est. -$0.11
Tesla (TSLA) – EPS Est. -$0.69