Economic Calendar & Watch List
Morning Notes
US Futures are unchanged this morning as markets await Fed Chair Janet Yellen’s speech at a conference later today. European stocks are edging higher on M&A activity as Amazon (NASDAQ:AMZN) targets Carrefour (PA:CARR), a large supermarket chain. Asian stocks settled mostly lower.
Technicals
The SPY (NYSE:SPY) sold early in yesterday’s session to test the 20EMA and managed to close out the day back above. Support will lie at the 20EMA at $248.30, followed by the low of yesterday’s range at $248.08, gap entry at $248.02, gap fill at $247.11, the 50SMA at $246.89, then $246.23, $244.95, $244.62, and the 100SMA at $244.37. Resistance will lie at the high of yesterday’s range at $249.55, followed by $249.63, $249.98, $250.19 and record highs at $250.32.
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**
$RHT
$DRI
Economic Calendar
9:00 July S&P CoreLogic composite-20 home price index expected +0.2%
9:30 Cleveland Fed President Loretta J. Mester speaks
10:00 August new home sales expected +2.5%
10:00 September consumer confidence expected -2.9 to 120
10:00 September Richmond Fed manufacturing index expected -1 to 13
10:30 Fed Governor Lael Brainard speaks
11:30 Atlanta Fed President Raphael Bostic speaks
12:45 Fed Chair Janet Yellen delivers speech
Notable Earnings Before Open
Darden Restaurant (DRI) – EPS Est. 0.98
Notable Earnings After Close
Cintas (NASDAQ:CTAS) – EPS Est. 1.26
Micron Technology Inc (NASDAQ:MU)– EPS Est. 1.73
Nike (NYSE:NKE) – EPS Est. 0.48