Economic Calendar and Watch List
Morning Notes
US Futures are modestly higher this morning following a rally in European stocks by over +1% after positive economic data out of Germany for business climate which was better than expected. Asian stocks closed mostly mixed.
Technicals
The SPY (NYSE:SPY) continues its consolidation at higher price levels throughout yesterday’s session, hovering just below record highs. Support will lie at the low of Monday’s range of $246.28, followed by $246.18, gap entry at $246.01, gap fill at $245.72, then $244.67, the 20 EMA at $244.50, continued with $244.31 and $243.76. Further support lies at the gap entry at $243.30, the 50 SMA at $242.68, then gap fill at $242.55. Resistance will lie at the high of Friday’s range at $246.91, followed by record highs at $247.42.
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**
Biogen Inc (NASDAQ:BIIB)
STX (NASDAQ:STX)
CAT (NYSE:CAT)
Economic Calendar
0855 ET Redbook
1000 ET Consumer Confidence, expected 116.0
1030 ET FOMC begins two day policy meeting
Notable Earnings Before Open
3M (MMM): Est EPS $2.59
McDonald’s Corporation (NYSE:MCD): Est EPS $1.62
E I du Pont de Nemours & Co (NYSE:DD): Est EPS $1.29
Caterpillar, Inc.: Est EPS $1.26
General Motors Company (NYSE:GM): Est EPS $1.72
Seagate Technology PLC (NASDAQ:STX): Est EPS $0.99
Notable Earnings After Close
AT&T Inc. (NYSE:T): Est EPS $0.74
Chipotle Mexican Grill, Inc. (NYSE:CMG): Est EPS $2.16
Wynn Resorts Limited (NASDAQ:WYNN): Est EPS $1.09
Advanced Micro Devices, Inc. (NASDAQ:AMD): Est EPS $-0.03