Tuesday July 25, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are modestly higher this morning following a rally in European stocks by over +1% after positive economic data out of Germany for business climate which was better than expected. Asian stocks closed mostly mixed.
Technicals
The SPY continues its consolidation at higher price levels throughout yesterday’s session, hovering just below record highs. Support will lie at the low of Monday’s range of $246.28, followed by $246.18, gap entry at $246.01, gap fill at $245.72, then $244.67, the 20 EMA at $244.50, continued with $244.31 and $243.76. Further support lies at the gap entry at $243.30, the 50 SMA at $242.68, then gap fill at $242.55. Resistance will lie at the high of Friday’s range at $246.91, followed by record highs at $247.42.
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**
$BIIB
$STX
$CAT
Economic Calendar
0855 ET Redbook
1000 ET Consumer Confidence, expected 116.0
1030 ET FOMC begins two day policy meeting
Notable Earnings Before Open
3M (MMM) – Est EPS $2.59
McDonald’s Corporation (MCD) – Est EPS $1.62
E.I. du Pont de Nemours and Company (DD) – Est EPS $1.29
Caterpillar, Inc. (CAT) – Est EPS $1.26
General Motors Company (GM) – Est EPS $1.72
Seagate Technology PLC (STX) – Est EPS $0.99
Notable Earnings After Close
AT&T Inc. (T) – Est EPS $0.74
Chipotle Mexican Grill, Inc. (CMG) – Est EPS $2.16
Wynn Resorts, Limited (WYNN) – Est EPS $1.09
Advanced Micro Devices, Inc. (AMD) – Est EPS $-0.03
