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TODAY’S S&P 500 SET-UP – February 15, 2013


As we look at today's setup for the S&P 500, the range is 16 points or 0.55% downside to 1513 and 0.50% upside to 1529.         

SECTOR AND GLOBAL PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - chartone

THE HEDGEYE DAILY OUTLOOK - 2A

THE HEDGEYE DAILY OUTLOOK - 3A

THE HEDGEYE DAILY OUTLOOK - 4A

 

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - sent


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 1.73 from 1.76
  • VIX  closed at 12.66 1 day percent change of -2.47%

MACRO DATA POINTS (Bloomberg Estimates):

  • G20 finance ministers and central bankers meet in Moscow
  • 8:30am: Empire Manufacturing, Feb., est. -2 (prior -7.78)
  • 9am: Total Net TIC Flows, Dec. (prior $27.8b)
  • 9:15am: Industrial Production, Jan., est. 0.2% (prior 0.3%)
  • 9:15am: Capacity Utilization, Jan., est. 78.9% (prior 78.8%)
  • 9:50am: Fed’s Pianalto speaks on economy in Florida
  • 9:55am: U. of Mich. Confidence, Feb., est. 74.8 (prior 73.8)
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • Senate holds cloture vote on Chuck Hagel as defense sec
    • 2pm: Council on Food, Agriculture and Resource Economics, Federation of Animal Science Societies discuss finely textured beef, or “pink slime”
    • 2:40pm: President Barack Obama to speak on economy in Chicago

WHAT TO WATCH

  • G-20 seeks common ground on currencies
  • Paulson mulls vote against T-Mobile’s MetroPCS merger
  • Airbus to use standard battery for A350 to avoid lithium woe
  • JPMorgan said to cut traders, realign pay amid equities slump
  • Nasdaq proposes earlier start to U.S. pre-mkt stock trading
  • Lehman seeks to question JPMorgan London Whale over losses
  • McGraw-Hill credit rating cut by Moody’s after U.S. sues S&P
  • US Airways wins AMR after Horton said to wage bid to stay CEO
  • Okada to ask judge to halt Wynn Resorts mtg to remove him
  • Universal Music to sell Black Sabbath label to BMG Rights
  • Vevo seeking new investors beyond major record-label owners
  • Citigroup, others report credit card delinquencies/charge-offs
  • Rogers Communications CEO to retire; 4Q adj. EPS above ests.
  • Occidental board forms search committee for CEO successor
  • U.S. Home Sales, Draghi, Wal-Mart, Ifo: Wk Ahead Feb. 16-23

EARNINGS:

    • Telus (T CN) 6am, C$0.87
    • Wabco Holdings (WBC) 6:30am, $0.94
    • Kraft Foods Group (KRFT) 6:30am, $0.38
    • American Electric Power Co (AEP) 6:57am, $0.46
    • Enbridge (ENB CN) 7am, C$0.44
    • LifePoint Hospitals (LPNT) 7am, $0.65
    • Digital Realty Trust (DLR) 7am, $1.17
    • Burger King Worldwide (BKW) 7am, $0.15
    • JM Smucker (SJM) 7am, $1.40
    • VF (VFC) 7am, $3.04
    • TRW Automotive Holdings (TRW) 7am, $1.34
    • Senior Housing Properties Trust (SNH) 7:01am, $0.44
    • Ventas (VTR) 7:03am, $0.97
    • Campbell Soup (CPB) 7:30am, $0.66 - Preview
    • Alere (ALR) 7:30am, $0.56
    • Lincoln Electric Holdings (LECO) 7:52am, $0.73
    • Ultra Petroleum (UPL) 8am, $0.54
    • Brookfield Asset Management (BAM/A CN) 8am, $0.29
    • IPG Photonics (IPGP) 8am, $0.72
    • Cott (BCB CN) 8am, $0.06
    • Allete (ALE) 8:30am, $0.75
    • MFA Financial (MFA) 8:30am, $0.20
    • Industrial Alliance Insurance (IAG CN) 9am, C$0.74
    • Hawaiian Electric Industries (HE) 8pm, $0.31
    • NGL Energy Partners (NGL) Pre-Mkt, $0.82
    • Dundee Precious Metals (DPM CN) Post-Mkt, C$0.16

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Billionaires Soros, Bacon Cut Gold Holdings as Price Slumps
  • Gold Bears Braced for U.S. to China Growth Recovery: Commodities
  • Zinc Rises as Meteorite Explosion Causes Damage at Russian Plant
  • WTI Crude Trims Weekly Gain; Open Interest Advances to Record
  • Gold Declines to Five-Month Low as Soros, Bacon Reduce Holdings
  • Wheat Advances as Price Drop Stokes Demand for U.S. Supplies
  • Sugar Rebounds as Prices May Have Fallen Too Far; Coffee Falls
  • Malaysia Raises Crude Palm Oil Export Tax to 4.5% for March
  • Oil May Fall Next Week Amid Ample U.S. Stockpiles, Survey Shows
  • Gold May Extend Decline to Below $1,600: Technical Analysis
  • Walking-Pace Trains Spur $17 Billion India Rail Revamp: Freight
  • Impala Bond Sale Bets on Platinum Revival: South Africa Credit
  • Climate Change as Source of Future Conflict Draws UN Attention
  • MF Global CFTC Proposal Said to Jeopardize Futures Brokerages

THE HEDGEYE DAILY OUTLOOK - 5A

CURRENCIES


THE HEDGEYE DAILY OUTLOOK - 6A

EUROPEAN MARKETS

THE HEDGEYE DAILY OUTLOOK - 7A

 

ASIAN MARKETS

THE HEDGEYE DAILY OUTLOOK - 8A

 

MIDDLE EAST


THE HEDGEYE DAILY OUTLOOK - 9A

The Hedgeye Macro Team