After hour earnings. ACN(0.99 EPS est, prv yr 0.93), AZZ(0.81 eps est, prv yr 0.75), camp (0.13 eps est, prv yr 0.02), nke(1.37 eps est, prv yr 1.24), tibx (0.23 eps est, prv yr 0.21), FC(0.08 eps est, prv yr 0.04), swhc(0.17 eps prv yr, prv yr 0.15)
Since March, jobless claims have been rising above the 375,000 level mark, while 3.3 million people filed for their second week of unemployment benefits indicating worsening conditions in the job market. A drop to 385,000 is predicted this time. US GDP of 1.9% is expected. Any number below 1.9% will bring back the fear of recession in stock market. I think recession was never over which began in 2008. Expect very thin volume and lots of rumor out of EU summit. Even a sneeze from Merkel (market will fall) or Monti (market will rally) can move this market big time.
Stocks for Day trading: UVXY, XIV, SVXY, TVIX, GLD, TZA, FAS, FAZ, GMCR, NOK, PCX, WLT, ACI, HAL, MT, X, FSLR, TPX, RVBD
Since March, jobless claims have been rising above the 375,000 level mark, while 3.3 million people filed for their second week of unemployment benefits indicating worsening conditions in the job market. A drop to 385,000 is predicted this time. US GDP of 1.9% is expected. Any number below 1.9% will bring back the fear of recession in stock market. I think recession was never over which began in 2008. Expect very thin volume and lots of rumor out of EU summit. Even a sneeze from Merkel (market will fall) or Monti (market will rally) can move this market big time.
For Bullish sentiment to continue: Dow needs to break 12625, while S&P500 needs to break 1332.
For Bearish sentiment to continue: Dow needs to break 12570, while S&P500 needs to break 1328 followed by 1324 which is key resistance.
In the chart below Red circle and arrow represent Bearish sentiment, Blue Circle and arrow represent Bullish sentiment.
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| Dow is expected to open lower |
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| SPX is expected to open lower |
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| TVIX is expected to open higher |
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| UVXY is expected to open higher. |
After hours big gainer: FLOW, HALO, HTLD. ARRY, CAMP, TNK, GFIG, SGU, ENU
After hours big loser: ETP, NYT, LCC, WFT, SNTA (22%), LOPE, GEVA
Stocks for Day trading: UVXY, XIV, SVXY, TVIX, GLD, TZA, FAS, FAZ, GMCR, NOK, PCX, WLT, ACI, HAL, MT, X, FSLR, TPX, RVBD
Stocks for Option Trading: CAT, XOM, SPY, QQQ, IBM, PCLN, AAPl, WLT, PCX, GOOG, MT.
Upcoming FDA approval : BMY/PFE on June 28th.
 | COMPANY | EVENT TITLE | EPS ESTIMATE | EPS ACTUAL | PREV. YEAR ACTUAL | ||
| Nike Inc | Q4 2012 Nike Earnings Release | $ 1.37 | n/a | $ 1.24 | ||
| Accenture PLC | Q3 2012 Accenture Earnings Release | $ 0.99 | n/a | $ 0.93 | ||
| Family Dollar Stores Inc | Q3 2012 Family Dollar Earnings Release | $ 1.07 | n/a | $ 0.91 | |||
| American Greetings Corp | Q1 2013 American Greetings Corporation Earnings Release | $ 0.69 | n/a | $ 0.78 | ||
| CalAmp Corp | Q1 2013 CalAmp Earnings Release | $ 0.13 | n/a | $ 0.02 | ||
| Command Security Corp | Q4 2012 Command Security Corporation Release of Results | $ 0.05 | n/a | $ 0.01 |
Economic calendar:
| TIME (ET) | REPORT | PERIOD | ACTUAL | FORECAST | PREVIOUS |
|---|
| 8:30 am | Weekly jobless claims | 6-23 | 385,000 | 387,000 | |
| 8:30 am | GDP | 1Q | 1.9% | 1.9% |
Today's Event (EST):
10 a.m.: Hearing on the appraisal industry and the regulations impacting the single-family mortgage market, at the House Financial Services subcommittee on Insurance, Housing and Community Opportunity.
10 a.m.: Hearing to review the tax treatment of capital gains in tax reform, at a joint hearing of the Senate Finance and House Ways and Means committees.
10 a.m.: Hearing to examine privacy protections, focusing on industry self-regulation, at the Senate Commerce, Science and Transportation Committee.
2 p.m.: Hearing on fractional reserve banking and its impact on monetary policy, at the House Financial Services on Domestic Monetary Policy and Technology.
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