Wednesday, March 4, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets climbed early in yesterdays session following the emergency rate cut by the FOMC. Investors remain on edge as concern over global spread of coronavirus continues with more companies implementing travel restrictions on employees. Asian stocks settled the session higher.
Technicals
The SPY spiked to begin yesterday’s session following the FOMC announcement that they were lowing rates by 50 basis points, then markets fell later into the session. Support will first be found at $298.3s, $284.87 and $281.47. Resistance will be found at $302.55, the 200SMA at 304.56, $309.65, $315.48 and the 100SMA at $316.55.
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**
JWN, ANF, DLTR
Economic Calendar
8:15 ADP Employment Report
10:00 ISM Non-Manufacturing Index
10:30 Weekly EIA Petroleum Status Report
6:30 Fed Pres. Bullard Speaks
Notable Earnings Before Open
Dollar Tree Stores (DLTR) – EPS Est. $1.76
Campbell Soup (CPB) – EPS Est. $1.23
Notable Earnings After Close
American Eagle Outfitters (AEO) – EPS Est. $0.36
Zoom Video Communications (ZM) – EPS Est. $0.07
