Economic Calendar & Watch List 5/31/2017

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Wednesday May 31, 2017

 

Economic Calendar & Watch List

 

 

Morning Notes

US Futures are pointing to a slightly higher open this morning while European stocks also trade higher on optimism for strength in the global economy. China reported manufacturing PMI that was stronger than expected and the Eurozone monthly unemployment fell to an 8 year low. Asian stocks closed mostly mixed.

 

Technicals

The SPY consolidated further throughout yesterday’s session hovering just below record highs. Support will lie at the low of yesterday’s range at $241.16, followed by $240.96, $240.73, $239.93, $239.51, the 20 EMA at $239.33, then $238.82, $237.27, and the 50 SMA at $237.06. Resistance will lie at the high of yesterday’s range at $241.79, followed by $241.90 and record highs at $242.08.

 

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**

$KORS

$ADI

$EXAS

 

 

Economic Calendar

8:00 Dallas Fed President Robert Kaplan speaks

9:45 May Chicago PMI expected -1.3 to 57

10:00 Apr pending home sales expected +0.4%

2:00 Fed Beige Book

 

Notable Earnings Before Open
Michael Kors (KORS) – consensus EPS 0.70      

 

Notable Earnings After Close

Box Inc (BOX) – consensus EPS -0.30

Palo Alto Networks (PANW) – consensus EPS -0.41

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