Thursday October 26, 2017
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly higher this morning after a pullback from record levels during yesterdays session. Investors are awaiting the ECB meeting this morning where it is expected that Draghi will outline a plan reducing the current QE program. Asian stocks closed mostly higher.
Technicals
The SPY (NYSE:SPY) traded on increased volume in yesterday’s session dropping early then finding support at its former ascending resistance line. Support will lie at the low of yesterday’s range and short term pivot at $253.98, followed by $253.65, then $253.20, $252.56, $252.23, the former ascending resistance at $251.69, then $251.30, and the recent pivot at $250.15. Resistance will lie at the high of yesterday’s range at $256.31, followed by $256.83, then the record highs of $257.51.
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**
Celgene Corporation (NASDAQ:CELG),
Buffalo Wild Wings Inc (NASDAQ:BWLD)
Economic Calendar
8:30 Weekly Unemployment Claims, expected 235k
10:30 EIA Natural Gas Report
10:30 Fed Pres. Kashkari
Notable Earnings Before Open
Anheuser-Busch Inbev SA (NYSE:BUD) – EPS Est. $1.50
Celgene (NASDAQ:CELG) – EPS Est. $1.72
United Parcel Service (NYSE:UPS) – EPS Est. $1.44
American Airlines Group (NASDAQ:AAL) – EPS Est. $1.38
Hershey Company (NYSE:HSY) – EPS Est. $1.28
Notable Earnings After Close
Alphabet (NASDAQ:GOOGL) – EPS Est. $8.39
Microsoft (NASDAQ:MSFT) – EPS Est. $0.73
Amazon.com (NASDAQ:AMZN) – EPS Est. $-0.02
Intel Corporation (NASDAQ:INTC) – EPS Est. $0.80
Baidu Inc (NASDAQ:BIDU) – EPS Est. $2.26
Western Digital Corporation (NASDAQ:WDC) – EPS Est. $3.00