Thursday, April 16, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Eyes will be on the unemployment numbers that are set to be released at 8:30 EST for a glimpse into the job market impact of the Coronavirus. Investors remain cautiously optimistic with words from Pres. Trump that he will start opening the economy soon and an announcement that will be made today regarding that. Asian stocks settled the session mostly lower.
Technicals
The SPY consolidated in yesterday’s session and held the $276 level. Support will first be found at $275.52, $271.3, then the 20EMA at $267.36, descending support near $265, $256.35, $247.68, followed by $242.21, $233.76, $228.02, and $218.26. Resistance will be found at $281.5, ascending resistance at $287.5s, gap fill at $290.23, and the 200SMA at $300.97.
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**
RAD, TSM, MS
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 6000k
8:30 Housing Starts
8:30 Philidelphia Fed Business Outlook Survey
11:00 Fed Pres. Bostic Speaks
2:00 Fed Pres. Williams Speaks
3:00 Fed Pres. Daly Speaks
Notable Earnings Before Open
Morgan Stanley (MS) – EPS Est. $1.07
Rite Aid (RAD) – EPS Est. $-0.13
Notable Earnings After Close
NONE
