TODAY’S S&P 500 SET-UP – February 14, 2013
As we look at today's setup for the S&P 500, the range is 16 points or 0.68% downside to 1510 and 0.37% upside to 1526.
SECTOR AND GLOBAL PERFORMANCE
*Buy trade and sell trade levels updated as of 02/13/13
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 1.77 from 1.75
- VIX closed at 12.98 1 day percent change of 2.69%
MACRO DATA POINTS (Bloomberg Estimates):
- G20 finance ministers, central bank governors meet in Moscow for two days
- 5:30am: U.K. to sell GBP4b 1.25% 2018 bonds
- 8:30am: Initial Jobless Claims, Feb. 9, est. 360k (prior 366k)
- 9:45am: Bloomberg Consumer Comfort, Feb. 10, prior -36.3
- 10am: Freddie Mac mortgage rates
- 10:30am: EIA natural-gas storage change
- 10:30am: Fed’s Tarullo testifies before Senate on regulation
- 11am: U.S. to announce plans for sale of 10Y TIPS
- 11am: Fed to purchase $4.75b-$5.75b in 2017-2018 sector
- 12:50pm: Fed’s Bullard speaks in Miss. on economy
- 1pm: U.S. to sell $16b 30Y bonds
GOVERNMENT:
- 9am: Northrop Grumman briefings on defense programs
- 9:30am: House Appropriations hears from Undersecretary of State on embassy security
- 10am: Senate Appropriations Cmte hearing on sequestration
- 10am: House Select Intelligence Cmte hearing on advanced cyber threats
- President Obama speaks on economy in Decatur, Ga.
- Senate Banking Cmte hearing on Dodd-Frank rules
- Sens. Richard Durbin, D-Ill., Mike Enzi, R-Wyo., Lamar Alexander, R-Tenn., introduce legislation allowing states to collect sales tax from Internet-based retailers
WHAT TO WATCH
- AMR, US Airways boards said to approve $11b merger
- Dell said to plan holder meetings to assess demands for LBO
- AB InBev to sell U.S. Corona rights to meet deal demands
- Apple says it will fight Greenlight’s effort to block vote
- Google sues BT Group unit over 4 patents for network services
- Buffett’s PacifiCorp denied rehearing of Cal ISO case at FERC
- Endeavour hires advisers, considers sale of company
- Time Warner said to talk w/Meredith about magazine deal
- Total in ‘advanced talks’ to sign China shale exploration accord
- Newfield to examine alternatives for international properties
- Bertelsmann said to work w/Lazard on RTL Group share sale
- Pershing, other funds to report holdings as of Dec. 31
EARNINGS:
- Precision Drilling (PD CN) 6am, C$0.08
- Alliant Energy (LNT) 6am, $0.57
- Cenovus Energy (CVE CN) 6am, C$0.38
- Encana (ECA CN) 6am, $0.39
- Alexion Pharmaceuticals (ALXN) 6:30am, $0.53
- Regeneron Pharmaceuticals (REGN) 6:30am, $1.37
- SPX (SPW) 6:30am, $1.56
- Barrick Gold (ABX CN) 6:46am, $1.05 - Preview
- PPL (PPL) 6:53am, $0.46
- General Motors (GM) 6:58am, $0.51 - Preview
- Incyte (INCY) 7am, $(0.02)
- Alpha Natural Resources (ANR) 7am, $(0.49)
- Discovery Communications (DISCA) 7am, $0.76
- Jarden (JAH) 7am, $1.26
- PepsiCo (PEP) 7am, $1.05 - Preview
- RioCan Real Estate Investment Trust (REI-U CN) 7am, C$0.37
- GNC Holdings (GNC) 7:30am, $0.46
- NorthStar Realty Finance (NRF) 7:30am, $0.22
- BorgWarner (BWA) 7:30am, $1.14
- DIRECTV (DTV) 7:30am, $1.15
- Molson Coors Brewing Co (TAP) 7:30am, $0.64
- Waste Management (WM) 7:30am, $0.60
- Apache (APA) 8am, $2.29
- Vulcan Materials (VMC) 8am, $(0.09)
- Realty Income (O) 9:15am, $0.54
- CI Financial (CIX CN) 12:41pm, C$0.34
- CBS (CBS) 4:01pm, $0.70
- DaVita HealthCare Partners (DVA) 4:01pm, $1.58
- Brocade Communications Systems (BRCD) 4:04pm, $0.16
- QLIK Technologies (QLIK) 4:05pm, $0.23
- Agilent Technologies (A) 4:05pm, $0.67
- Health Management Associates (HMA) 4:05pm, $0.19
- Fairfax Financial Holdings Ltd (FFH CN) 5:01pm, $8.87
- Goldcorp (G CN) 5:01pm, $0.55
- Key Energy Services (KEG) Post-Mkt, $0.08
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Sugar War Revived as U.S. Senators Back Cuts in Price Supports
- Cattle Disappearing Amid Drought Signals Beef Rally: Commodities
- Gold Demand Rose 3.8% in Fourth Quarter, Narrowing Annual Drop
- Platinum Widens Spread Over Gold as Supply Concern Drives Rally
- Aluminum Climbs for Third Day Before Report on Jobless Claims
- Wheat Rebounds From Seven-Month Low as U.S. Exports May Increase
- Barrick Gold Takes $3 Billion Writedown on Zambia Copper Mine
- Astra Agro Targets 10% Production Growth This Year, Mahdi Says
- Soy Spread Surging Amid Wait for Big Harvest: Technical Analysis
- Indonesian Palm Exports to Slump to Four-Month Low; Futures Drop
- Gold Fields’ Profit Declines 7.4% After Strikes Cuts Production
- Desalination Seen Booming at 15% a Year as World Water Dries Up
- Alpha Quarterly Results Exceed Estimates After Coal Exports Rise
- ‘No Moo in Mince’ Claim Helps Horse Meat in Food Scandal Twist
- Gold Council Sees Central Bank Bullion Buying at 48-Year High
CURRENCIES
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team