Hot Stocks To Watch 11/2/2017

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Friday November 2, 2017

 

 

Economic Calendar & Watch List

 

Morning Notes

US Futures and European stocks are slightly lower this morning as markets continue to consolidate after posting new all time highs. Investors are awaiting a tax reform bill rollout from House Republicans along with Pres. Trump’s expected new appointment for the Fed Chair, Jerome Powell.  European losses were limited by an unexpected drop in German unemployment numbers and the rate being held at record lows. Asian stocks closed lower today, except for Japan’s Nikkei which rose to a new 21 ⅓ year record high.

 

Technicals

The SPY opened at new record highs yesterday, then drifted for the remainder of the session. Support will lie at the low of yesterday’s range at $257.07, followed by $256.81, $256.41, $255.63, the 20EMA at $255.38, then $253.98, $253.65, $253.20, $252.56, $252.23, the former ascending resistance at $252.04, then $251.30, and the recent pivot at $250.15. Resistance will lie at yesterday’s all time highs at $258.43.

 

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**

W, TSLA, BABA, FB

Economic Calendar

8:30  Weekly Unemployment Claims, expected 235k

10:30  EIA Natural Gas Report

12:20  Fed Pres. Dudley Speaks

6:15  Fed Pres. Bostic Speaks

 

Notable Earnings Before Open

Alibaba (BABA) – EPS Est. $0.84

Yum! Brands (YUM) – EPS Est. $0.65

Wayfair (W) – EPS Est. $-0.68

 

Notable Earnings After Close

Apple (AAPL) – EPS Est. $1.86

Starbucks (SBUX) – EPS Est. $0.55

Activision Blizzard (ATVI) – EPS Est. $0.45

Chemours (CC) – EPS Est. $1.01

 

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