Today’s economic calendar has two key reports being released today and a host of speaking engagements by Fed officials, Yesterday, the Federal Reserve Vice Chairman Richard Clarida was positive on the state of the U.S. economy in a television interview. He indicated that the central bank was closely watching the coronavirus outbreak and its effect on the U.S. economy. Clarida dismissed odds for a 2021 rate cut.in
the interviews and feels that the futures markets are prematurely pricing in a rate cut. Minneapolis Fed leader Neel Kashkari said earlier this week that “the next move would be down rather than up and there are any number of shocks around the global economy that could hit the U.S. economy and call for lower rates from here,”
At 09:45 am ET PMI Composite Flash.
At 10:00 am ET Existing Home Sales.
At 01:00 pm ET Baker Hughes Rig Count
At 09:45 am ET Dallas Fed Bank President Robert Kaplan
At 10:00 am ET Atlanta Fed Bank President Raphael Bostic.
At 10:00 am ET Fed Governor Lael Brainard
At 01:30 pm ET Fed Governor Richard Clarida
At 01:30 pm ET Cleveland Fed Bank President Loretta Mester
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Bullish option activity in ALLY, ITT & RUTH
Bearish option activity in QRVO SPCE & WB
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Sector Update: Headlines to Note-
LULU Closing stores in China, but remains confident in the long-term opportunities.
DDS Scheduled to release earnings Monday morning, a move of $1.66 is expected.
SHAK Scheduled to release earnings Monday afternoon, a move of $1.57 is expected.
ALDR PUDFA date is Feb 21st for Eptinezumab for migraine prevention targeting.
BXRX FDA approved the New Drug Application for ANJESO(TM) (meloxicam injection)
WMT Skipcart informed Walmart that it would end its partnership with the company
GS Along with JPM are backing a new low-cost stock exchange that starts this summer.
HD Scheduled to release earnings Tuesday morning, a move of $8.64 is expected.
SPY Market anticipate that the coronavirus outbreak will curtail economic growth.
INTU Scheduled to release earnings Monday afternoon, a move of $3.17 is expected.
GH Scheduled to release earnings Monday afternoon, a move of $2.57 is expected.