Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are slightly higher this morning in early trading after an unexpected rise in European manufacturing activity. European gains were limited ahead of an ECB meeting regarding the ongoing political crisis in Spain. Japan’s Nikkei continued its winning streak for the 16th day propelling Asian stocks to close predominantly higher.
Technicals
The SPY (NYSE:SPY) gapped higher to open yesterday’s session at new all time highs, but exhibited weakness throughout the majority of the session to close the gap from last week. Support will lie at the low of Monday’s range in the gap at $256.02, followed by gap fill at $255.82, then $254.37, $253.98, the 20EMA at $253.98, then $253.65, $253.20, $252.56, $252.23, the former ascending resistance at $251.56, then $251.30, and the recent pivot at $250.15. Resistance will lie at record highs of $257.51.
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**
Caterpillar Inc (NYSE:CAT)
Whirlpool Corporation (NYSE:WHR)
Economic Calendar
8:55 Redbook
9:15 PMI Composite Flash, expected 54.8
Notable Earnings Before Open
McDonald’s Corporation (NYSE:MCD)– EPS Est. $1.74
Caterpillar (NYSE:CAT) – EPS Est. $1.22
3M Company (NYSE:MMM) – EPS Est. $2.19
JetBlue Airways Corporation (NASDAQ:JBLU) – EPS Est. $0.81
Notable Earnings After Close
Advanced Micro Devices (NASDAQ:AMD) – EPS Est. $0.06
Chipotle Mexican Grill (NYSE:CMG) – EPS Est. $1.69