Friday, October 18, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European markets are mixed in early trading. Markets are weak following China’s weakest economic growth rate in 30 years with the ongoing trade dispute with the US. Fed Pres. Kaplan states that global growth is decelerating in regard to trade uncertainties and is showing by a slowdown in manufacturing and investment. Asian stocks settled the session lower.
Technicals
The SPY continued to trade sideways in yesterday’s session. Support will first be found at the 20EMA and gap entry at $295.56, then gap fill at $294.21, $293.85, the 100SMA of $293.44, the 200SMA at $285.97. Resistance will be found at $302.20 and $302.63.
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**
KSU, LB, GIL
Economic Calendar
9:00 Fed Pres. Kaplan Speaks
10:00 Fed Pres. George Speaks
10:00 Fed Pres. Kaplan Speaks
10:30 Fed Pres. Kashkari Speaks
11:30 Fed Pres. Clarida Speaks
5:10 Fed Pres. Kaplan Speaks
Notable Earnings Before Open
Coca-Cola (KO) – EPS Est. $0.56
American Express (AXP) – EPS Est. $2.07
Kansas City Southern (KSU) – EPS Est. $1.77
Notable Earnings After Close
NONE
