Economic Calendar & Watch List 7/20/2017

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Thursday July 20, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are tracking higher this morning along with European markets in early trading. The Nasdaq and S&P both hit record highs during yesterday’s session. In European news, ECB meetings wrap up today along with the second round of Brexit talks.  Asian stocks were higher on the day following the record highs in the US markets.

 

Technicals

The SPY traded to more record highs again yesterday, opening above Friday’s range and closing strong on light volume. Support will lie at the low of yesterday’s range and gap entry of $246.01, followed by the gap fill of $245.72, then $244.67, $244.31, the 20 EMA at $243.70, gap entry at $243.30, then gap fill at $242.55. Support continues at the 50 SMA at $242.24, followed by $240.85, and the near term support pivot at $240.65. Resistance will lie at yesterday’s record high of $247.00

 

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**

$SRPT

 

Economic Calendar

0830 ET  Weekly jobless claims expected Est. 245,000

0830 ET  July Philadelphia Fed business outlook survey Est. 23.7

1030 ET  EIA Natural Gas

 

Notable Earnings Before Open

Philip Morris International Inc (PM) – Est EPS $1.23

Union Pacific Corporation (UNP) – Est EPS $2.62

Sherwin-Williams Company (SHW) – Est EPS $4.55

Polaris Industries Inc. (PII) – Est EPS $1.08

 

Notable Earnings After Close

Microsoft Corporation (MSFT) – Est EPS $0.71

Visa Inc. (V)  – Est EPS $0.81

eBay Inc. (EBAY) – Est EPS $0.36

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