Thursday May 2, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are higher and European markets are lower in early trading. Markets are higher this morning following comments from Fed Chair Powell who said there is no strong case for either raising or lowering rates in the near term. Investors continue to watch the reported earnings results for Q1 and are also waiting for any news regarding US/China trade negotiations. Asian markets settled the session mixed.
Technicals
The SPY opened higher to start yesterday’s session then sold off into the afternoon following the FOMC release. Support will first be found at the 20EMA at $289.9, $289.4, $288.8, $286.6, $281.2, and the 200SMA at $276.97. Resistance lies at $293.2, and all time highs of $294.95
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**
AAPL, EB, SQ, ABMD
Economic Calendar
8:30 Weekly Unemployment Data, exp. 215k
10:00 Factory Orders
Notable Earnings Before Open
Cigna (CI) – EPS Est. $3.74
Wayfair (W) – EPS Est. $-2.13
Under Armour (UAA) – EPS Est. $0.00
Notable Earnings After Close
Activision Blizzard (ATVI) – EPS Est. $0.19
United States Steel (X) – EPS Est. $0.17
Expedia (EXPE) – EPS Est. $-0.61
