Thursday June 22, 2017
Economic Calendar & Watch List
Morning Notes
US stock futures are lower and global stocks slump with continued concerns over the selloff in crude oil prices. Brexit concerns also are weighing as EU leaders started a summit in Brussels. However, biotech shares have been rallying with a 0.75% increase Wednesday.
Technicals
The SPY drifted lower throughout yesterday’s session for the second consecutive day while while testing the 20 EMA. Support will lie at the 20 EMA at 242.62, followed by the low of yesterday’s range at $242.41, then $241.63, the near term support pivot at $240.65, followed by $239.93, $239.51, $238.82, and the 50 SMA at $239.77. Resistance will lie at the high of yesterday’s range at $243.59, followed by $244.26, $244.73, $244.87, and the record highs at $245.01.
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**
$ORCL
$WB
$HAIN
Economic Calendar
0830 ET Weekly initial unemployment report – expected 240,000
1000 ET Fed Gov. Powell speaks on fostering economic growth
Notable Earnings Before Open
Hain Celestial Group Inc (HAIN) – EPS Est. 0.472
Carnival Corp (CCL) – EPS Est. 0.481
Barnes & Noble Inc. – EPS Est. (0.17)
Notable Earnings After Close
Bed Bath & Beyond Inc (BBBY) – EPS Est. 0.659
Sonic Corp (SONC) – EPS Est. 0.41
