Thursday February 7, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are lower in early trading. Investors remain cautious as the earning season starts to slow with may companies decreasing forecasts into 2019. Asian markets settled the session lower.
Technicals
The SPY consolidated in yesterday’s session just below the 200SMA. Support is first found at the 100SMA at 270.30, then the pivots at $270, $268, the 20EMA at $265.34, and $265. It continues at $263, $260, $254.67, $253, $250, $248, $242 and $240. Resistance first lies at the 200SMA at $273.92 followed by $275.5 and $281.
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**
TWTR, TPR
Economic Calendar
8:30 Weekly unemployment claims, exp. 223k
9:15 Fed Pres. Kaplan Speaks
9:30 FOMC Vice Chair Clarida Speaks
7:30 Fed Pres. Bullard Speaks
Notable Earnings Before Open
Philip Morris International (PM) – EPS Est. $1.16
Twitter (TWTR) – EPS Est. $0.16
GrubHub (GRUB) – EPS Est. $0.28
Notable Earnings After Close
Expedia (EXPE) – EPS Est. $0.74
Skechers (SKX) – EPS Est. $0.23
Mattel (MAT) – EPS Est. $-0.11