Thursday July 27, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are pointing higher this morning on continued upbeat earnings results, specifically Facebook (FB). The Federal Reserve released in its statement that they would be adhering to its expected interest rate hike and indicated that it may start shrinking its bond holdings as soon as September. Asian stocks settled predominantly higher.
Technicals
The SPY double topped at record highs early in yesterday’s session then drifted lower into the close, yet still managing to sustain recent gains while consolidating at these higher price levels. Support will lie at the low of yesterday’s range at $247.13, followed by $246.98, former ascending resistance at $246.88, then $246.28, $246.18, gap entry at $246.01, gap fill at $245.72, then the 20 EMA at $245.01, continued with $244.67, $244.31 and $243.76. Further support lies at the gap entry at $243.30, the 50 SMA at $242.99, then gap fill at $242.55. Resistance will lie at the record highs of Tuesday’s session at $247.80.
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**
$FB
$BMY
Economic Calendar
0830 Weekly unemployment claims expected +7k to 240k
0830 Jun durable goods orders expected +3.5%
Notable Earnings Before Open
BRISTOL-MYERS (BMY) – EPS Est. 0.73
CELGENE CORP (CELG) – EPS Est. 1.61
DOW CHEMICAL (DOW) – EPS Est. 1.01
MASTERCARD INC (MA) – EPS Est. 1.04
MGM RESORTS INT (MGM) – EPS Est. 0.28
PRAXAIR INC (PX) – EPS Est. 1.43
PROCTER & GAMBLE COMPANY (PG) – EPS Est. 0.78
TWITTER INC (TWTR) – EPS Est. -0.12
VERIZON COMM (VZ) – EPS Est. 0.96
Notable Earnings After Close
AMAZON.COM INC (AMZN) – EPS Est. 1.40
BAIDU INC (BIDU) – EPS Est. N/A
ELECTRONIC ARTS INC (EA) – EPS Est. 0.14
EXPEDIA INC (EXPE) – EPS Est. 0.60
INTEL CORP (INTC) – EPS Est. 0.68
MATTEL INC (MAT) – EPS Est. -0.08
STARBUCKS CORP (SBUX) – EPS Est. 0.55
WESTERN DIGITAL (WDC) – EPS Est. 2.51