Wednesday February 1, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking slightly higher this morning led by Apple Inc (NASDAQ:AAPL) reporting better than expected quarterly results. European stocks are trading higher by nearly +1% after Eurozone PMI grew at the fastest pace in 3 years. Markets are awaiting the results of the FOMC 2 day policy meeting which will be announced at 2 PM EST. Asian stocks closed mostly higher.
Technicals
The SPY (NYSE:SPY) initially drifted lower throughout the early hours of yesterday’s session and then closed out the day on the highs. Support will lie at the former descending resistance at $226.80, followed by the low of yesterday’s range at $226.32, then $225.27, the recent support pivot at $224.89, and the 50 day moving average at $224.82. Resistance will lie at the high of yesterday’s range at $227.60, followed by $228.20, $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**
Economic Calendar
8:15 Jan ADP employment change expected +167K
9:45 Revised Jan Markit U.S. manufacturing PMI
10:00 Jan ISM manufacturing PMI expected +0.5 to 55
10:00 Dec construction spending expected +0.2%
10:30 EIA Weekly Petroleum Status Report
2:00 FOMC minutes results
Notable Earnings Before Open
Altria Group (NYSE:MO) – EPS Est. $0.67
Anthem Inc (NYSE:ANTM) – EPS Est. $1.61
Johnson Controls (NYSE:JCI) – EPS Est. $0.52
Marathon Petroleum (NYSE:MPC) – EPS Est. $0.26
Tupperware Brands Corporation (NYSE:TUP) – EPS Est. $1.3
Notable Earnings After Close
Cirrus Logic Inc (NASDAQ:CRUS) – EPS Est. $1.62
Facebook (NASDAQ:FB) – EPS Est. $1.30
Tractor Supply Company (NASDAQ:TSCO) – EPS Est. $0.91