Thursday February 28, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are slightly lower in early trading. Talks between Pres. Trump and NK’s Kim Jong Un ended abruptly with no deal putting investors a little on edge. This combined with weak manufacturing data from China showing contraction for the third consecutive month is pulling global markets lower. Asian markets settled the session lower.
Technicals
The SPY gapped slightly lower to start yesterday’s session then closed green consolidating in the $279.5 area. Support will first found at the near term support of $276.1 followed closely by the $275.5 pivot, then the 200SMA at $274.65, followed by the 20EMA at $274.20, $270, and the 100SMA at $268.18. Resistance first lies at $281 and $286.6.
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**
SQ, BOX, CGC, BILI, CELG
Economic Calendar
8:00 Fed Pres. Clarida Speaks
8:30 GDP, exp. 2.2%
8:30 Weekly Unemployment Claims, exp. 225k
12:15 Fed Pres. Harker Speaks
1:00 Fed Pres. Kaplan Speaks
Notable Earnings Before Open
JD.com (JD) – EPS Est. $-0.04
Notable Earnings After Close
Workday (WDAY) – EPS Est. $0.32
VMware (VMW) – EPS Est. $1.88
Nordstrom (JWN) – EPS Est. $1.42
Marriott International (MAR) – EPS Est. $1.40