Morning Notes
US Futures are higher this morning as the Dow Industrial is set to post new record highs by surpassing 22,000 fueled by an earnings beat by Apple (NASDAQ:AAPL). European shares are mostly down in early trading as EUR/USD hit a 2.5 year high. Asian stocks settled mixed on the day.
Technicals
The SPY (NYSE:SPY) opened at the high of Monday’s session and consolidated at the ascending resistance closing slightly back above. Support will lie at the low of yesterday’s range at $246.8, followed by $246.53, $246.13. Support continues with a short term pivot point at $245.70, followed by the 20 EMA at $245.66, then $244.67, $244.31, $243.76 and the 50 SMA at $243.74. Further support lies at the gap entry at $243.30, then gap fill at $242.55. Resistance will lie at Tuesday’s high of $247.50 and the record highs at $248.
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**
$AAPL
Economic Calendar
0815 July ADP private payroll expected +190k
1000 EIA Weekly Petroleum Status Report
1100 Fed Pres. Mester Speaks
1530 Fed Pres.Williams Speaks
Notable Earnings Before Open
Time Warner(TWX) – EPS Est. $1.19
Mondelez International (MDLZ) – EPS Est. $0.46
Humana (NYSE:HUM) – EPS Est. $3.08
Cardinal Health, Inc. (NYSE:CAH) – EPS Est. $1.24
SodaStream International (SODA) – EPS Est. $0.51
Notable Earnings After Close
Tesla (NASDAQ:TSLA) – EPS Est. $-2.00
American International Group (NYSE:AIG) – $1.20
Square (NYSE:SQ) – EPS Est. $-0.04
Chemours Company (CC) – EPS Est. $0.90
Take-Two Interactive Software (TTWO) – EPS Est. $0.19