Hot Stocks To Watch 5/8/2019

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Wednesday May 8, 2019

Economic Calendar & Watch List

Morning Notes

US Futures are lower and European markets are flat in early trading. Investors remain cautious with the trade negotiations that resume today between China and the US in Washington. Trade Rep. Lighthizer confirmed that tariff will take effect on Friday if a deal is not reached. Asian markets settled the session lower.  

 

Technicals

The SPY again gapped below the 20EMA to start yesterday’s session then tested and held the $286 support level on increased volume. Support will first be found at $287.1, $286.6, $281.2, and the 200SMA at $277.19. Resistance first lies at $289.4, followed by the 20EMA at $290.42, $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**

EA, NVTN, INGN

 

Economic Calendar

 8:30  Fed Gov. Brainard Speaks

10:30  Weekly EIA Petroleum Status Report

 

Notable Earnings Before Open

Autohome (ATHM) – EPS Est. $0.80

McKesson (MCK) – EPS Est. $3.66

 

Notable Earnings After Close

Roku (ROKU) – EPS Est. $-0.24

Etsy (ETSY) – EPS Est. $0.14

Walt Disney (DIS) – EPS Est. $1.59

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