Friday May 8, 2015
Economic Calendar 5/8/2015
Morning Notes
US Futures are slightly higher this morning ahead of the April Jobs report. European Markets are rallying higher after election results show Prime Minister Cameron returning to his position of government. Asian Markets closed from flat to slightly higher.
Technicals
The $SPY tested mid range support of $208 yesterday and closed higher at $209.38. Yesterday’s trading was also an inside day, meaning that the price action was contained within Wednesday’s making for choppy markets. Look for the $SPY to hold support of $208 and break through resistance of $210.
In Play
GEVO: Gevo, Inc. – After the company announced its strategic partnership with Alaska Airlines fro the use of its renewable alcohol based jet fuel the stock doubled and is moving further in pre market trading. Gapping up 31% with a 5.5M share float.
NVGN: Novogen Limited – The company announced news that recent studies have shown a positive effect with the use of its cancer drug to treat brain cancer. Gapping up17% with a 8.6M share float.
ICLD: Intercloud Systems – The company announced news that they have won a contract with a major Auto Parts Distributor. Gapping up 11% with a 14.4M share float.
Economic Calendar
8:30 April Non Farm Payrolls Est. 228,000
8:30 Unemployment Rate Est. 5.4%
8:30 Average Hourly Wages Est. 0.2%
10:00 Wholesale Inventories
Earnings Before Open
NRG: NRG Energy – Eps est. $0.185
Earnings After Close
NONE
Happy Trading!
