Hot Stocks To Watch 5/30/2019

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Thursday May 30, 2019

Economic Calendar & Watch List

Morning Notes

US Futures and European markets are higher in early trading. Investors still remain cautious with the ongoing trade war between China and the US. Signs are pointing to a prolonged fight as China announced in their state controlled news paper that they do have countermeasures they could use if needed. Eyes are on retailers as they continue to report earnings and investors watch to see how the trade war impacts their bottom line and future guidance. Asian markets settled the session mostly lower.

 

Technicals

The SPY remained weak in yesterday’s session trading between its 100 and 200 daily moving averages. Support will first be found at the 200SMA at $277.32, followed by $275.50 and $272.50. Resistance first lies at the 100SMA at $278.85, followed by $281.2, $284.21, $285.1, then the 20EMA at $285.01, $289.4, $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**

PANW, PVH

 

Economic Calendar

 8:30  GDP, exp. 3.0%

 8:30  Weekly Unemployment Data, exp. 215k

 8:30  International Trade In Goods

11:00  Weekly EIA Petroleum Status Report

12:00  Fed Pres. Clarida Speaks

 

Notable Earnings Before Open

Dollar General (DG) – EPS Est. $1.39

Dollar Tree Stores (DLTR) – EPS Est. $1.15

Burlington Stores (BURL) – EPS Est. $1.26

 

Notable Earnings After Close

ULTA Beauty (ULTA) – EPS Est. $3.06

VMware (VMW) – EPS Est. $1.28

Williams-Sonoma (WSM) – EPS Est. $0.68

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