Economic Calendar & Watch List 8/7/2017

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Monday August 7, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are higher this morning while European shares were mixed in early trading after an unexpected fall in German industrial production and a drop in WTI crude prices. The positive jobs report last Friday helped propel the Dow to record highs to close Friday’s session. Asian stocks opened the week mostly higher.

 

Technicals

 

The SPY consolidated just above the ascending resistance trendline during Friday’s session and continued to exhibit weakness throughout the remainder of the day after a quick selloff to begin Friday’s trading. Support will lie at the low of Friday’s range at $246.97, followed by $246.64, then $246.37, $246.13, the 20 EMA at $246.06, the short term pivot point at $245.70, then $244.67, $244.31 and the 50 SMA at $244.17. Further support lies at $243.76, then gap entry at $243.30 and gap fill at $242.55. Resistance will lie at the high of Friday’s range at $247.79 and record highs at $248.

 

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**

 

Economic Calendar

1145  Fed Pres. Bullard Speaks

1345  Fed Pres. Kashkari Speaks

1500  June consumer credit expected +$16b

 

Notable Earnings Before Open
Tyson Foods (TSN) – EPS Est. $1.27

BroadSoft (BSFT) – EPS Est. $-0.13

 

Notable Earnings After Close
Marriott International (MAR) – EPS Est. $1.02

CBS Corporation (CBS) – EPS Est. $0.97

Twilio TWLO) – EPS EST. $-0.20

Avis Budget Group (CAR) – EPS Est. $0.42

GW Pharmaceuticals (GWPH) – EPS Est. $-1.73

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