Morning Notes
US Futures are pointing slightly higher this morning while European stocks also trade higher, yet gains were muted after German December industrial production fell sharply lower by the most in 8 years. Asian stocks closed mostly lower.
Technicals
The SPDR S&P 500 (NYSE:SPY) remains in a tight, choppy range making for a lack of follow through in the majority of stocks. Support will lie at the low of yesterday’s range at $228.72, followed by $228.54, $228.46, $228.10, and $226.82. Resistance will lie at the high of yesterday’s range at $229.66, followed by record highs at $229.71.
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**
Microchip Technology Incorporated (NASDAQ:MCHP)
Gilead Sciences Inc (NASDAQ:GILD)
Economic Calendar
10:30 EIA Weekly Petroleum Status Report
Notable Earnings Before Open
Alaska Air Group Inc (NYSE:ALK) – EPS Est. $1.40
Allergan (NYSE:AGN) – EPS Est. $3.76
The Goodyear Tire & Rubber Company (NASDAQ:GT) – EPS Est. $0.87
Grubhub Inc (NYSE:GRUB) – EPS Est. $0.25
Humana (NYSE:HUM) – EPS Est. $2.05
Time Warner Inc (NYSE:TWX) – EPS Est. $1.19
Notable Earnings After Close
Whole Foods Market (NASDAQ:WFM) – EPS Est. $0.39
iRobot Corporation (NASDAQ:IRBT) – EPS Est. $0.41