TODAY’S S&P 500 SET-UP – January 31, 2013
As we look at today's setup for the S&P 500, the range is 16 points or 0.46% downside to 1495 and 0.60% upside to 1511.
SECTOR AND GLOBAL PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 1.71 from 1.73
- VIX closed at 14.32 1 day percent change of 7.59%
MACRO DATA POINTS (Bloomberg Estimates):
- 7:30am: Challenger Job Cuts Y/y, Jan. (prior -22.1%)
- 8:30am: Employment Cost Index, 4Q, est. 0.5% (prior 0.4%)
- 8:30am: Personal Income, Dec., est. 0.8% (prior 0.6%)
- 8:30am: Personal Spending, Dec., est. 0.3% (prior 0.4%)
- 8:30am: Initial Jobless Claims, Jan. 26, est. 350k (prior 330k)
- 9:00am: NAPM-Milwaukee, Jan., est. 52.0 (prior 52.2)
- 9:45am: Chicago Purchasing, Jan., est. 50.5 (prior 50.0)
- 9:45am: Bloomberg Consumer Comfort, Jan. 27 (prior -36.4)
- 10am: Freddie Mac mortgage rates
- 10:30am: EIA natural gas
- 11am: Fed to purchase $1.25b-$1.75b in 2036-2042 range
GOVERNMENT:
- Senate in session
- CFTC holds public roundtable on “futurization” of swaps market, 9:30am
- SEC meets on federal securities rules, regulations affecting small businesses, 9:30am
- FCC holds open commission meeting, 10:30am
- Energy Secretary Steven Chu delivers keynote remarks on electric vehicles, Convention Center
WHAT TO WATCH
- Facebook profit declines 79% on spending to lure advertisers
- KKR, Apax said to team up for Vivendi’s GVT against DirecTV
- Apollo chosen with Metropoulos as lead bidder for Hostess cakes
- Paulson added to ACA Financial abacus suit against Goldman
- Qualcomm forecasts profit, sales that top analysts’ ests.
- Honda Motor cuts profit forecast on China, Europe sales drop
- Shell misses profit ests., says investment costs to rise
- Deutsche Bank posts $3b 4Q loss on costs
- STMicroelectronics sees funding costs in chip venture exit
- J&J’s Ekdahl says hips recalled because of unmet clinical needs
- German Jan. unemployment unexpectedly declines
- BOJ could add further easing if needed, Yamaguchi says
- U.S. revisits AB InBev’s Modelo takeover plan, N.Y. Post says
EARNINGS:
- Potash of Saskatchewan (POT CN) 6am, $0.57, preview
- Enterprise Products Partners (EPD) 6am, $0.65
- Time Warner Cable (TWC) 6am, $1.55, preview
- Whirlpool (WHR) 6am, $2
- Dunkin’ Brands Group (DNKN) 6am, $0.33
- Aetna (AET) 6am, $0.94
- Ball (BLL) 6am, $0.66
- Thermo Fisher (TMO) 6am, $1.28, preview
- Helmerich & Payne (HP) 6am, $1.29
- PulteGroup (PHM) 6:30am, $0.31, preview
- AutoNation (AN) 6:45am, $0.64
- Dow Chemical Co/The (DOW) 6:55am, $0.34
- Xcel Energy (XEL) 7am, $0.28
- Viacom (VIAB) 7am, $0.90, preview
- Zimmer Holdings (ZMH) 7am, $1.49, preview
- Colgate-Palmolive Co (CL) 7am, $1.40, preview
- Elizabeth Arden (RDEN) 7am, $1.64
- Hershey Co/The (HSY) 7am, $0.76
- Altria Group (MO) 7am, $0.55, preview
- Nasdaq OMX Group (NDAQ) 7am, $0.61
- Consol Energy (CNX) 7am, $0.23
- Energizer Holdings (ENR) 7am, $2.15
- Alliance Data Systems (ADS) 7am, $1.80
- Pitney Bowes (PBI) 7am, $0.51
- Hillshire Brands (HSH) 7am, $0.47
- Penn National Gaming (PENN) 7am, $0.50
- Under Armour (UA) 7am, $0.46
- Occidental Petroleum (OXY) 7:30am, $1.66
- Cameron International (CAM) 7:30am, $0.95
- Mead Johnson Nutrition Co (MJN) 7:30am, $0.68
- Invesco Ltd (IVZ) 7:30am, $0.47
- Dominion Resources /VA (D) 7:30am, $0.69
- AmeriGas Partners (APU) 7:30am, $1.01
- Bemis Co (BMS) 7:30am, $0.50
- United Parcel Service (UPS) 7:45am, $1.38, preview
- Ryder System (R) 7:55am, $1.10
- Royal Gold (RGLD) 8am, $0.43
- Paccar (PCAR) 8am, $0.68
- Blackstone Group (BX) 8am, $0.47
- Sherwin-Williams (SHW) 8am, $1.16
- Mastercard (MA) 8am, $4.80
- Chubb (CB) 4pm, $(0.46)
- Principal Financial Group (PFG) 4pm, $0.74
- Fortune Brands Home & Security (FBHS) 4:01pm, $0.22
- Wynn Resorts Ltd (WYNN) 4:01pm, $1.27
- Bally Technologies (BYI) 4:01pm, $0.76
- PMC - Sierra (PMCS) 4:04pm, $0.10
- CR Bard (BCR) 4:05pm, $1.67
- NetSuite (N) 4:05pm, $0.04
- PerkinElmer (PKI) 4:05pm, $0.65
- McKesson (MCK) 4:10pm, $1.63
- Essex Property Trust (ESS) 4:12pm, $1.73
- Validus Holdings Ltd (VR) 4:15pm, $(1.70)
- Camden Property Trust (CPT) 4:15pm, $0.96
- Manitowoc (MTW) 4:30pm, $0.24
- Eastman Chemical (EMN) 5:01pm, $1.19
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Oil Trades Near Four-Month High as Fed Maintains Asset Buying
- Rubber Extending Bull Market With Record Car Sales: Commodities
- Soybeans Drop as Brazil’s Harvest Seen Proceeding Amid Rainfall
- Copper Reaches Three-Month High as Fed Maintains Asset Purchases
- Cotton Futures Decline in N.Y., Head for First Drop This Week
- Gold Drops in New York as Metal Subject to ‘Opportunistic’ Sales
- Palm Oil Surges to Three-Month High as Stockpiles Seen Falling
- CME Retreat on Grain Hours Welcomed by Traders Who Need to Sleep
- Rebar Gains for Second Month on Optimism for China Growth
- India May Consider Ending Four-Decade Old Curbs on Sugar Mills
- Silver Wheaton Attracts Capital-Hungry Miners: Corporate Canada
- Polysilicon Seen Rebounding as China Plans Import Duties: Energy
- U.K. Gas Stations Fairly Reflect Crude Prices: Chart of the Day
- Robusta Coffee Gains to One-Week High on Stockpiles; Cocoa Rises
CURRENCIES
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
