Economic Calendar & Watch List
Morning Notes
US Futures are drifting slightly lower this morning while European stocks also trade in the negative by -0.14% as markets await today’s ADP jobs report which is estimated to have added 190K jobs. The price of crude is lower this morning by nearly -1% after API data released yesterday showed a sharp jump of over 11M barrels for last week. Asian stocks closed mostly mixed.
Technicals
The SPY (NYSE:SPY) traded lower for the fourth consecutive session in yesterday’s trading. Near term support will lie at the low of yesterday’s session at $236.76, followed by $236.01, $235.41, $235.09, and $233.95. Resistance will lie at the high of yesterday’s range at $237.77, followed by $238.12, $238.61, $239.57, and record highs at $240.32.
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 Feb ADP employment change expected +189K
8:30 Revised Q4 non-farm productivity expected +1.5%
10:00 Final January wholesale inventories expected unrevised at -0.1%
10:30 EIA Weekly Petroleum Status Report
Notable Earnings Before Open
The Childrens Place Retail Stores (NASDAQ:PLCE) – EPS Est. $1.59
Ciena Corp (NYSE:CIEN) – EPS Est. $0.29
Express Inc (NYSE:EXPR) – EPS Est. $0.29
Notable Earnings After Close
United Natural Foods Inc (NASDAQ:UNFI) – EPS Est. $0.50