Hot Stocks To Watch 2/3/2020

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Monday, February 3, 2020

 

 

Economic Calendar & Watch List

 

Morning Notes

US Futures and European markets are slightly higher in early trading. Markets have eased after Friday’s loss following the US declaring the coronavirus a public health emergency. Alphabet is set to report tonight after the bell capping off earnings for the tech sector. Asian stocks settled the session lower. The Shanghai Composite dropped over 7%, the largest 1-day drop in 4 years.  

 

Technicals

The SPY was weak in Friday’s session, falling through the 20EMA and closing the session just above the 50SMA. Support will first be found at the 50SMA of $320.70, then $319.50, $315.48, then gap fill at $312.5, 100SMA at $310.56. Resistance will be found first at the 20EMA at $326.08, $327 and all-time highs of $332.95.

 

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

  9:45  PMI Manufacturing Index

10:00  ISM Manufacturing Index

10:00  Construction Spending

  4:30  Fed Pres. Bostic Speaks

 

Notable Earnings Before Open

SYSCO (SYY) – EPS Est. $0.89

 

Notable Earnings After Close

Alphabet (GOOGL) – EPS Est. $12.76

NXP Semiconductors (NXPI) – EPS Est. $2.02

 

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