Friday February 3, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking modestly higher this morning while European stocks trade higher by over +.50% as markets await the US payroll report which may provide clues into the timing of the next rate increase by the FOMC. Asian stocks closed mostly mixed.
Technicals
The SPY held the former descending resistance in yesterday’s session and attempted to pivot higher. Support will lie at the low of yesterday’s range at $226.82, followed by the former descending resistance at $226.70, then $226.32, $225.27, the 50 day moving average at $225.18 and the recent support pivot at $224.89. Resistance will lie at the high of yesterday’s range at $228.10, followed by $228.59, $228.76, $229.59, and record highs at $229.71.
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**
$FTNT
$DATA
$DECK
Economic Calendar
8:30 January non-farm payrolls expected +175K
8:30 January avg hourly earnings expected +0.3%
9:15 Chicago Fed President Charles Evans speaks
9:45 Revised January Markit services PMI
10:00 January ISM non-manufacturing PMI expected +0.4 to 57
10:00 December factory orders expected +0.7%
Notable Earnings Before Open
Apollo Global Management (APO) – EPS Est. $0.77
Clorox (CLX) – EPS Est. $1.22
Hershey Foods (HSY) – EPS Est. $1.08
Tuesday Morning (TUES) – EPS Est. $0.37
Notable Earnings After Close
NONE
