Thursday, October 31, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Markets traded higher and posted new all-time highs following yesterday’s FOMC rate cut decision. Trade continues to weigh on investors as tensions remain high between the US and China on key issues in negotiations. Asian stocks settled the session mixed.
Technicals
The SPY filled the recent gap in yesterday’s session then pushed higher following the FOMC rate announcement. Support will first be found at $302.20s, the 20EMA at $299.11, $296.97, gap entry at $295.57, the 100SMA of $295.21, then gap fill at $294.21, $293.85, the 200SMA at $288.01. Resistance will be found at all-time highs of $304.55 and ascending resistance of 306.45.
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**
TWLO, W, HBI, AAPL
Economic Calendar
8:30 Weekly Unemployment Claims, 215k
8:30 Personal Income and Outlays
9:45 Chicago PMI
Notable Earnings Before Open
Altria (MO) – EPS Est. $1.14
Wayfair (W) – EPS Est. $-2.11
Cigna (CI) – EPS Est. $4.37
Bristol-Myers Squibb (BMY) – EPS Est. $1.06
Notable Earnings After Close
US Steel (X) – EPS Est. $-0.28
Pinterest (PINS) – EPS Est. $-0.04
Avis Budget Group (CAR) – EPS Est. $3.65
