Thursday, February 6, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets are higher following reports from China that they will be reducing tariffs on $75b of US-made imports as part of the phase 1 trade agreement. Investors’ fears seemed to have waned on the risk of the economic impact of the coronavirus even with companies stating it may impact their bottom line. Asian stocks settled the session higher.
Technicals
The SPY gapped higher to start yesterday’s session and held that gap closing the day just above the previous all-time highs. Support will first be found at $327, the 20EMA of $326.83, then $319.50, $315.48, then gap fill at $312.5, 100SMA at $311.43. Resistance will be found at all-time highs of $333.09.
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**
TWTR, WWE, IRBT
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 215k
9:15 Fed Pres. Kaplan Speaks
7:15 Fed Pres. Quarles Speaks
Notable Earnings Before Open
Twitter (TWTR) – EPS Est. $0.28
Tyson Foods (TSN) – EPS Est. $1.70
Bristol-Myers Squibb (BMY) – EPS Est. $0.88
Phillip Morris (PM) – EPS Est. $1.22
Estee Lauder (EL) – EPS Est. $1.90
Notable Earnings After Close
Activision Blizzard (ATVI) – EPS Est. $1.15
Uber Technologies (UBER) – EPS Est. $-0.68
Pinterest (PINS) – EPS Est. $0.08
Take-Two Interactive (TTWO) – EPS Est. $1.75
Wynn Resorts (WYNN) – EPS Est. $0.85
