Thursday June 29, 2017
Economic Calendar & Watch List
Morning Notes
US stock futures suggest a mixed start ahead of economic growth figures. A rally in bank stocks is helping to try and pull the markets higher. Wednesday US stocks rose sharply with materials stocks being the highest gainers. Asian stocks settled higher on the day.
Technicals
The SPY reclaimed the 20 EMA throughout yesterday’s session as the recent dip got bought. Support will lie at the low of yesterday’s range at $242.23, followed by $241.31, and the near term support pivot at $240.65, which also coincides with the 50 SMA. Then, $239.93, $239.51, and $238.82. Resistance will lie at the high of yesterday’s range at $243.72, then $244.38, $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**
$STZ
$JPM
$WBA
Economic Calendar
0830 ET Weekly initial unemployment claims expected -1,000 to 240K
0830 ET Q1 GDP expected unrevised at +1.2%
1030 ET Natural Gas Storage
Notable Earnings Before Open
McCormick & Co Inc (MCK) – Est EPS $0.762
Constellation Brands Inc (STZ) – Est EPS $1.976
Walgreens Boots Alliance Inc (WBA) – Est EPS $1.297
Conagra Brands Inc (CAG) – Est EPS $0.373
Rite Aid Corp (RAD) – Est EPS $(0.013)
Notable Earnings After Close
Micron Technology Inc (MU) – Est EPS $1.519
Nike Inc (NKE) – Est EPS $0.501