Morning Notes
US Futures are trading at record highs this morning boosted by global optimism after China’s import/export numbers were better than expected for January and February. European stocks gave back early gains and are now trading lower led by the banking sector after Greek debt problems resurface. Asian stocks closed higher.
Technicals
The SPY (NYSE:SPY) surged to new record highs throughout yesterday’s session and managed to hold the majority of those gains into the close. Support will lie at the low of yesterday’s range at $229.56, followed by $229.39, $228.31, $228.10, and $226.82. Resistance will only lie at the high of yesterday’s range at $230.95.
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**
YELP (NYSE:YELP)
ATVI (NASDAQ:ATVI)
NVDA (NASDAQ:NVDA)
ICPT (NASDAQ:ICPT)
Economic Calendar
8:30 Jan import price index expected +0.3%
10:00 Prelim February University of Michigan U.S. consumer sentiment index expected -0.5
2:00 January monthly budget statement expected +$45B
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE