Thursday April 26, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. FB is leading the market higher with a stronger than expected quarterly earnings report. Automakers are getting a boost from a potential reduction in tariffs in China for automobiles. European markets are also awaiting comments at the conclusion of the ECB meeting today. Asian stocks closed the session mixed.
Technicals
The SPY found support near its 200SMA yesterday and trended higher though the rest of the session closing the day near its previous $263 pivot. Support will first lie at the 200SMA at $260.59, followed by pivots at $256.60, $260, $254.67, and the low of the February sell down at $252.92. Resistance will lie at pivots at the critical pivots of $265, $267 and $270 which also coincides with the 100SMA, then $273, $275.5, $280, $284.10, and all time highs at $286.63.
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, AAL, GM, CMG
Economic Calendar
8:30 International Trade In Goods
8:30 Weekly Unemployment Claims, expected 230k
Notable Earnings Before Open
AbbVie (ABBV) – EPS Est. $1.80
Altria Group (MO) – EPS Est. $0.93
United Parcel Service (UPS) – EPS Est. $1.54
Bristol-Myers Squibb (BMY) – EPS Est. $0.85
Notable Earnings After Close
Microsoft (MSFT) – EPS Est. $0.85
Amazon.com (AMZN) – EPS Est. $1.22
Baidu (BIDU) – EPS Est. $1.31
Western Digital (WDC) – EPS Est. $2.97
Intel (INTC) – EPS Est $0.71
