Economic Calendar & Watch List
Morning Notes
US Futures are tracking modestly higher this morning while European stocks are trading near 16 month highs. Markets are optimistic as they await the US February Non farm payrolls report at 8:30 which is expected to show strength in job increases. Asian stocks closed mostly higher.
Technicals
The SPY (NYSE:SPY) initially traded yesterday but managed to post a strong rebound into the close of the session. Near term support will lie at the low of yesterday’s range at $235.74, $235.41, $235.09, $233.95, $233.85, and $233.39. Resistance will lie at the high of yesterday’s range at $237.24 followed closely by $237.24, then $237.64, $237.77, $238.12, $238.61, $239.57, and record highs at $240.32.
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**
Ulta Beauty Inc (NASDAQ:ULTA)
Finisar Corporation (NASDAQ:FNSR)
Economic Calendar
8:30 February non-farm payrolls expected +190K
8:30 February avg hourly earnings expected +0.3%
8:30 February unemployment rate expected 4.7%
2:00 February monthly budget statement expected -$170B
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE