Morning Notes
US Futures are tracking slightly higher this morning on carryover from a European rally. Stocks are higher on upbeat Q2 earnings data as well as continued global optimism. The price of Crude is trading higher by +.70%. Markets will await the FOMC rate decision at 2EST. Asian stocks settled predominantly higher.
Technicals
The SPY (NYSE:SPY) posted another record high close to end yesterday’s session after recent consolidation at higher price levels. Support will lie at the low of yesterday’s range at $247.16, followed by $246.98, former ascending resistance at $246.80, then $246.28, $246.18, gap entry at $246.01, gap fill at $245.72, then the 20 EMA at $244.77, continued with $244.67, $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 yesterday’s record high at $247.80.
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**
Akamai (NASDAQ:AKAM)
iRobot (NASDAQ:IRBT)
X (NYSE:X)
Economic Calendar
10:00 June new home sales expected +0.8% to 615K
10:30 EIA Weekly Petroleum Status Report
2:00 FOMC announces interest rate decision
2:00 Fed Funds Rate change
Notable Earnings Before Open
ALASKA AIR (ALK) – EPS Est. 2.50
ANGIES LIST (ANGI) – EPS Est. -0.06
|ANTHEM (ANTM) – EPS Est. 3.25
BAXTER (BAX) – EPS Est. 0.57
BLOOMIN BRANDS (BLMN) – EPS Est. 0.28
BOEING (BA) – EPS Est. 2.32
COCA COLA (KO) – EPS Est. 0.57
CORNING (GLW) – EPS Est. 0.40
D R HORTON (DHI) – EPS Est. 0.75
FORD MOTOR (F) – EPS Est. 0.44
GENERAL DYNAMICS (GD) – EPS Est. 2.43
HERSHEY (HSY) – EPS Est. 0.91
HESS (HES) – EPS Est. -1.32
NASDAQ (NDAQ) – EPS Est. 0.96
NORFOLK SOUTHERN (NSC) – EPS Est. 1.64
NORTHROP GRUMMIN (NOC) – EPS Est. 2.84
OWENS CORNING (OC) – EPS Est. 1.06
Notable Earnings After Close
BUFFALO WILD WINGS (BWLD) – EPS Est. 1.01
FACEBOOK (FB) – EPS Est. 1.13
GILEAD (GILD) – EPS Est. 2.11
LAM RESEARCH (LRCX) – EPS Est. 3.02
LAS VEGAS SANDS (LVS) – EPS Est. 0.61
O REILLY (ORLY) – EPS Est. 2.90
PAYPAL (PYPL) – EPS Est. 0.32
SERVICENOW (NOW) – EPS Est. -0.18
TRACTOR SUPPLY (TSCO) – EPS Est. 1.27
VERTEX (VRTX) – EPS Est. 0.06
WHIRLPOOL (WHR) – EPS Est. 3.56
WHITING (WLL) – EPS Est. -0.18
WHOLE FOODS (WFM) – EPS Est. 0.34
XILINX (XLNX) – EPS Est. 0.60