Wednesday August 5, 2015
Economic Calendar & Watch List 8/5/2015
Morning Notes
US futures are higher this morning as energy producers show some strength. In addition, crude is up over .5% this morning. The market awaits the Nonfarm July ADP employment change at 8:15 A.M. to give a better idea of the labor market and may also give further clues to the timing of a rate hike by the fed. European stocks are up over 1%, a 2 week high, led by a strong move in banking stocks. Asian markets closed mixed.
Technicals
The SPY traded within Monday’s range in yesterday’s session making for slow, choppy price action. The same levels will remain in play from yesterday. Overhead resistance lies at $210.53 followed by $211.45. Support lies at $208.65.
In Play
BIOC: Biocept – The company announced the first liquid biopsy diagnostic test for colorectal cancer. Gapping up 12% with a 14.4M share float.
FNJN: FinJan Holdings – The company announced a Ruling in Favor of Finjan for Nearly $40 Million as Blue Coat Trial Concludes. Gapping up 75% with a 6.6M share float.
**Others On Watch**
Z
KATE
FSLR
LL
Economic Calendar
8:15 ADP Nonfarm Employment Change – Consensus 215.0K
8:30 Trade Balance – Consensus (42.70B)
9:45 Markit Composite PMI
9:45 Services PMI – Consensus 55.20
10:00 ISM Non-Mfg PMI [Jul] – Consensus 56.20
10:00 ISM Non-Mfg New Orders [Jul]
10:30 EIA Weekly Distillates
10:30 Gasoline Inventories
Earnings Before Open
PCLN: Priceline – EPS Est. $11.98, Rev Est. $20.10M
Earnings After Close
HLF: Herbalife – EPS Est. $1.12, Rev Est. $1.15B
GMCR: Keurig Green Mountain – EPS Est. $0.79, Rev Est. $1.04B
FOXA: 21st Century Fox – EPS Est. $0.37, Rev Est. $6.54B
ABX: Barrick Gold – EPS Est. $0.06, Rev Est. $2.23B
