Friday May 10, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are lower and European markets are slightly higher in early trading. New tariff are in place this morning on $200b of Chinese goods just as Pres. Trump stated would happen as trade negotiations continue in Washington. Investors will also be watching the Uber IPO that is scheduled for today. Asian markets settled the session mixed.
Technicals
The SPY remained under pressure in yesterday’s session, but rallied into the afternoon on optimistic trade talk. Support will first be found at $286.6, $281.2, and the 200SMA at $277.26. Resistance first lies at $287.1, $289.4, followed by the 20EMA at $289.81, $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**
Economic Calendar
8:30 Consumer Price Index
8:30 Fed Pres. Brainard Speaks
9:05 Fed Pres. Bostic Speaks
10:00 Fed Pres. Williams Speaks
Notable Earnings Before Open
JD.com (JD) – EPS Est. $0.12
Marriott International (MAR) – EPS Est. $1.34
Cars.com (CARs) – EPS Est. $0.30
Notable Earnings After Close
NONE
