Wednesday March 1, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are trading at new record highs this morning while European stocks are trading higher by +1.5% on new signs of global economic strength and President Trump’s speech to Congress yesterday evening. Asian stocks closed predominantly higher.
Technicals
The SPY is gapping sharply higher this morning to new record highs and therefor no resistance. Near term support will lie at the high of Monday’s range at $237.71, followed by yesterday’s high at $236.95, then $236.01, $235.41, $235.09, $233.95, and $233.85.
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**
$BBY
$SRPT
$PANW
$WTW
Economic Calendar
8:30 January personal spending expected +0.3%
9:45 Revised February Markit manufacturing PMI expected +0.2 to 54.5
10:00 February ISM manufacturing index expected unch at 56
10:00 January construction spending expected +0.6%
10:30 EIA Weekly Petroleum Status Report
1:00 Dallas Fed President Robert Kaplan speaks
2:00 Beige Book
Notable Earnings Before Open
American Eagle Outfitters (AEO) – EPS Est. $0.38
Best Buy (BBY) – EPS Est. $1.67
Dollar Tree (DLTR) – EPS Est. $1.32
Lowe’s Cos. (LOW) – EPS Est. $0.79
Notable Earnings After Close
Juno Therapeutics (JUNO) – EPS Est. -$0.61
Shake Shack (SHAK) – EPS Est. $0.09
