Wednesday April 17, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are higher in early trading. Strength in China’s economy is helping push markets higher this morning as their GDP came in at 6.4%, beating the forecast of 6.3%. Shares of QCOM surged in the afternoon of yesterday’s session following the settlement of a legal battle with AAPL. Asian markets settled the session mostly higher.
Technicals
The SPY continued to consolidate near the recent highs yesterday and again tested and held the $289.4 level. Support will first be found at $289.4, then $288.8, $287, followed by the $286.6 pivot, the 20EMA at $285.93, $281.2, the pivot and 200SMA at $276.14, $275.50, $272.42, then the 100SMA at $270.60. Resistance first lies at $293.2 and $294
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**
QCOM, NFLX
Economic Calendar
8:30 International Trade In Goods
12:30 Fed Pres. Bullard Speaks
12:30 Fed Pres. Harker Speaks
Notable Earnings Before Open
Morgan Stanley (MS) – EPS Est. $1.17
Pepsico, Inc. (PEP) – EPS Est. $0.92
Notable Earnings After Close
Las Vegas Sands Corp. (LVS) – EPS Est. $0.85
United Rentals, Inc. (URI) – EPS Est. $3.12
Alcoa Corporation (AA) – EPS Est. $-0.17