Economic Calendar and Watch List
Morning Notes
US Futures are relatively flat this morning as the market awaits a batch of earnings reports. European stocks are trading slightly higher after the January Markit Manufacturing PMI came in higher than expected. The price of crude is trading just slightly higher by +.17. Asian stocks closed mostly higher.
Technicals
The SPY (NYSE:SPY) continued its consolidation throughout yesterday’s session and not providing much of a tradeable range. Support will lie at the low of yesterday’s range at $225.27, followed closely by the recent support pivot at $224.89, then $223.88 and the 50 day moving average at $223.46. Resistance will lie at the high of yesterday’s range at $226.81, followed by the near term descending resistance at $227.10, then $227.31, $227.45, $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**
BABA (NYSE:BABA)
9:45 January Markit manufacturing PMI expected +0.2 to 54.5
10:00 December existing home sales expected -2.0% to 5.5
10:00 January Richmond Fed manufacturing index expected -2 to 6
Notable Earnings Before Open
3M Co (NYSE:MMM) – EPS Est. $1.87
Alibaba – EPS Est. $1.13
Corning (NYSE:GLW) – EPS Est. $0.44
DR Horton Inc (NYSE:DHI) – EPS Est. $0.48
DuPont (NYSE:DD) – EPS Est. $0.42
Johnson & Johnson (NYSE:JNJ) – EPS Est. $1.56
Lockheed Martin (NYSE:LMT) – EPS Est. $3.06
Verizon Communications (NYSE:VZ) – EPS Est. $0.89
Notable Earnings After Close
Alcoa (NYSE:AA) – EPS Est. $0.19
Cree Inc (NASDAQ:CREE) – EPS Est. $0.12
Seagate Technology (NASDAQ:STX) – EPS Est. $1.08
Steel Dynamics (NASDAQ:STLD) – EPS Est. $0.43
Texas Instruments (NASDAQ:TXN) – EPS Est. $0.82