Economic Calendar & Watch List
Morning Notes
US Futures are relatively flat this morning while European stocks trade higher by over +.5% after positive comments from Janet Yellen about the economy with low unemployment and wage growth. Asian stocks closed mostly mixed.
Technicals
The SPY (NYSE:SPY) initially sold off in yesterday’s session and caught support at the recent pivot at $224.89, reversed and closed out just off the highs. Support will lie at the recent pivot at $224.89, followed by $223.88 and $222.73. Resistance will lie at the high of yesterday’s range at $226.75, followed by $227.10, the descending resistance at $227.45, then $227.75, $227.81, and all time highs at $228.34.
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**
GameStop Corp (NYSE:GME)
Economic Calendar
8:30 December retail sales expected +0.7%
8:30 December PPI final demand expected +0.3% m/m
9:30 Philadelphia Fed President Patrick Harker speaks
10:00 November business inventories expected +0.6%
10:00 Prelim-January University of Michigan U.S. consumer sentiment index expected +0.3
2:00 December monthly budget statement expected -$25B
Notable Earnings Before Open
Bank of America (NYSE:BAC) – EPS Est. $0.38
BlackRock Inc (NYSE:BLK) – EPS Est. $5.04
Infosys Limited (NYSE:INFY) – EPS Est. $0.23
JPMorgan (NYSE:JPM) – EPS Est. $1.44
PNC Financial Services (NYSE:PNC) – EPS Est. $1.84
Wells Fargo (NYSE:WFC) – EPS Est. $1.00
Notable Earnings After Close
NONE