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TODAY’S S&P 500 SET-UP – February 6, 2013


As we look at today's setup for the S&P 500, the range is 14 points or 0.61% downside to 1502 and 0.31% upside to 1516.               

SECTOR AND GLOBAL PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2

THE HEDGEYE DAILY OUTLOOK - 3

THE HEDGEYE DAILY OUTLOOK - 4

 

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 1.72 from 1.74
  • VIX  closed at 13.72 1 day percent change of -6.48%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, Feb. 1 (prior -8.1%)
  • 9am: U.S. Treasury quarterly refunding announcement for auction of 3Y, 10Y and 30Y debt
  • 10:30am: DoE Energy Inventories
  • 11am: Fed to purchase $3b-$3.75b debt in 2018-2020 sector

GOVERNMENT:

    • House Budget Cmte hears from CBO Director Douglas Elmendorf on budget, economic outlook, 9:30am
    • House Financial Services Cmte holds hearing on role of FHA in housing insurance market, 9am
    • John Kerry to be sworn in as 68th U.S. Secretary of State
    • Bloomberg Government, Nuclear Energy Institute host discussion on fracking, tax credits, offshore drilling, nuclear energy, w/ Sen. Johnny Isakson, R-Ga., Rep. John Shimkus, R-Ill., 8:45am
    • Postmaster General Patrick Donahoe makes announcement about Postal Service operational changes, 10am

WHAT TO WATCH

  • Malone’s Liberty Global to acquire Virgin Media for $16b
  • Obama urges delay of U.S. spending cuts to avoid economic harm
  • Chief executives’ confidence in U.S. economy improves in survey
  • Google said in talks to invest $50m in Vevo Music service
  • Biogen to pay Elan $3.25b for full rights to Tysabri
  • JPMorgan said to cut investment bank pay 3%, asset managers gain
  • RBS said to face up to $783m Libor manipulation fine
  • Morgan Stanley bankers Whayne, Rashid said to depart amid cuts
  • Flagstar ordered by N.Y. judge to pay bond insurer $90.1m
  • Boise Cascade raises $247m pricing IPO above range
  • Facebook director James Breyer sells $74m worth of shares

EARNINGS:

  • WR Grace (GRA) 6am, $1.06
  • Macerich (MAC) 6am, $0.87
  • TMX Group (X CN) 6am, C$0.73
  • Coventry Health Care (CVH) 6:30am, $0.68
  • Wyndham Worldwide (WYN) 6:30am, $0.60
  • CVS Caremark (CVS) 6:45am, $1.10 - Preview
  • Intact Financial (IFC CN) 6:55am, $1.34
  • Time Warner (TWX) 7am, $1.10
  • Westjet Airlines (WJA CN) 7am, $0.43
  • Scotts Miracle-Gro (SMG) 7am, C$(1.13)
  • Apollo Investment (AINV) 7:30am, $0.21
  • Cummins (CMI) 7:30am, $1.75
  • AGL Resources (GAS) 7:30am, $0.97
  • Husky Energy (HSE CN) 7:30am, C$0.57
  • IntercontinentalExchange (ICE) 7:30am, $1.74
  • Nu Skin Enterprises (NUS) 7:30am, $0.95
  • Marathon Oil (MRO) 7:39am, $0.67
  • Melco Crown (MPEL) 7:40am, $0.21
  • Madison Square Garden (MSG) 8am, $0.36
  • Prologis (PLD) 8am, $0.41
  • Ralph Lauren (RL) 8am, $2.20 - Preview
  • USG (USG) 8:30am, $(0.25)
  • IAC/InterActive (IACI) 4pm, $0.74
  • Akamai Technologies (AKAM) 4pm, $0.50
  • Green Mountain Coffee Roasters (GMCR) 4pm, $0.65
  • News Corp. (NWSA) 4pm, $0.43
  • Spectrum Brands Holdings (SPB) 4pm, $0.71
  • WMS Industries (WMS) 4pm, $0.15
  • Cincinnati Financial (CINF) 4:01pm, $0.49
  • CYS Investments (CYS) 4:01pm, $0.39
  • Mettler-Toledo International (MTD) 4:01pm, $3.20
  • Two Harbors Investment (TWO) 4:01pm, $0.33
  • Stericycle (SRCL) 4:02pm, $0.86
  • CBRE Group (CBG) 4:04pm, $0.48
  • PartnerRe Ltd (PRE) 4:04pm, $(0.46)
  • Allstate (ALL) 4:05pm, $(0.05)
  • Atmel (ATML) 4:05pm, $0.02
  • Everest Re (RE) 4:05pm, $0.27
  • Visa (V) 4:05pm, $1.79
  • Yelp (YELP) 4:05pm, $(0.05)
  • Equifax (EFX) 4:07pm, $0.75
  • Plains All American Pipeline (PAA) 4:07pm, $0.76
  • Prudential Financial (PRU) 4:07pm, $1.74
  • Lincoln National (LNC) 4:08pm, $1.06
  • Assurant (AIZ) 4:15pm, $(0.31)
  • Gildan Activewear (GIL CN) 4:21pm, $0.30
  • RenaissanceRe Holdings Ltd (RNR) 4:22pm, $0.30
  • FMC (FMC) 4:30pm, $0.81
  • Tesoro (TSO) 4:45pm, $1.39
  • O’Reilly Automotive (ORLY) 6:30pm, $1.08
  • Fifth Street Finance (FSC) Post-Mkt, $0.27

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Merchant Commodity Hedge Fund Cuts Jobs After Second Losing Year
  • Carmakers Use Aluminum Over Steel in Boost for Rio: Commodities
  • Platinum Climbs to a 16-Month High, Extending Premium Over Gold
  • Copper Falls as Commodities Drop on Euro-Area Political Concern
  • WTI Crude Slips, Discount to Brent Widens to Most This Year
  • Soybeans Decline as Brazilian Harvest Estimate Raised on Yields
  • Sugar Falls as Price Drop Seen Needed to Curb Glut; Cocoa Slides
  • Palm Output Plunging Most Since ’10 in Malaysia to Cut Reserves
  • Rebar Declines Amid Waning Liquidity Ahead of Lunar New Year
  • Palm Oil Drops to One-Week Low as Inventories Seen Near Record
  • Iran Cash Faces Tighter Squeeze as Oil Export Rules Stiffen
  • Duke Reactor Shutdown Plan Shows Shale’s Sway Over Power: Energy
  • India’s Cabinet May Consider More Wheat Exports Tomorrow: Pawar
  • China Gold Imports From Hong Kong Climb to Record on Wealth

THE HEDGEYE DAILY OUTLOOK - 5

CURRENCIES

THE HEDGEYE DAILY OUTLOOK - 6

EUROPEAN MARKETS

THE HEDGEYE DAILY OUTLOOK - 7

 

ASIAN MARKETS

THE HEDGEYE DAILY OUTLOOK - 8

 

MIDDLE EAST


THE HEDGEYE DAILY OUTLOOK - 9

The Hedgeye Macro Team