Economic Calendar & Watch List 5/25/2017

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Thursday May 25, 2017

 

Economic Calendar & Watch List

 

 

Morning Notes

US Futures are tracking sharply higher this morning into record territory following Wednesday’s rally after the FOMC minutes revealed that the recent weakness seen in economic growth is only temporary before raising rates. European stocks also are trading higher on the move in US markets while Asian stocks closed predominantly higher.

 

Technicals

The SPY continued to push higher throughout yesterday’s session and is gapping to new record highs this morning. Support will lie at the low of yesterday’s range at $239.93, followed by $239.51, $238.82, the 20 EMA at $238.57, then $237.27, the 50 SMA at $236.78, then $235.43, $235.31, and the former descending resistance at $234.35. There is currently no identifiable near term resistance.

 

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**

$BBY

$SIG

 

 

Economic Calendar

8:30 Weekly initial unemployment claims expected +6,000 to 238

8:30 April wholesale inventories expected +0.2%

8:30 USDA weekly Export Sales

10:00 Fed Governor Lael Brainard speaks

11:00 May Kansas City Fed manufacturing activity expected +3

 

Notable Earnings Before Open
Abercrombie (ANF) – EPS Est. -0.72
Best Buy (BBY) – EPS Est. 0.40
Dollar Tree (DLTR) – EPS Est. 0.99
Hormel Foods (HRL) – EPS Est. 0.40

 

Notable Earnings After Close

Costco (COST) – EPS Est. 1.31
Deckers (DECK) – EPS Est. -0.06           
Gamestop (GME) – EPS Est. 0.49
Marvell (MRVL) – EPS Est. 0.16  
Splunk(SPLK) – EPS Est. -0.75
Ulta (ULTA) – EPS Est. 1.79

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