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TODAY’S S&P 500 SET-UP – February 20, 2013


As we look at today's setup for the S&P 500, the range is 15 points or 0.85% downside to 1518 and 0.13% upside to 1533.           

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: 1.76 from 1.76
  • VIX  closed at 12.31 1 day percent change of -1.20%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, Feb 15. (prior -6.4%)
  • 7:45am: ICSC weekly sales
  • 8:30am: Housing Starts, Jan., est. 920k (prior 954k)
  • 8:30am: Housing Starts M/m, Jan, est. -3.6% (prior 12.1%)
  • 8:30am: Building Permits, Jan., est. 920k (prior 909k)
  • 8:30am: Building Permits M/m, Jan. est. 1.2% (prior 1%)
  • 8:30am: PPI, M/m, Jan., est. 0.4% (prior -0.2%)
  • 8:30am: PPI Ex Food/Energy M/m, est. 0.2% (prior 0.1%)
  • 8:55am: Johnson/Redbook weekly sales
  • 11am: Fed to purchase $2.75b-$3.5b notes in 2020-2023 sector
  • 11:30am: U.S. Treasury to sell 4W bills
  • 2pm: Fed releases minutes from Jan. 29-30 FOMC
  • 4:30pm: API weekly inventories

GOVERNMENT:

    • 9:30am: Commerce Dept, Intl Trade Admin. hold meeting of Renewable Energy and Energy Efficiency Advisory Cmte
    • 10:30am: FCC holds open meeting on reqs for signal boosters, boosting amt of unlicensed spectrum available for Wi-Fi
    • 11am: Sec. of State John Kerry’s first foreign policy address
    • 1:30pm: American College of Physicians webinar on state of health care

WHAT TO WATCH

  • Home construction in U.S. probably cooled from 4yr high
  • BofA increases Moynihan’s compensation 71% to $12m in 2012
  • N.J. casino owner Revel to file for prepackaged bankruptcy
  • Japan trade deficit hits record as yen inflates imports
  • Bank of Korea’s Kim signals no rate cut needed now
  • Boeing averts immediate engineers’ strike as labor peace elusive
  • Malware attack on Apple said to come from eastern European gang
  • Dell sales exceed estimates on business demand ahead of buyout
  • Monsanto gets support from high court justices on seed patents
  • Heinz deal trading anomalies subject of FBI’s criminal probe
  • Apple victory in Google case to be reviewed by U.S trade agency
  • Wal-Mart sales slump may signal U.S. consumer spending to cool
  • Sony expected to unveil new PS4 at New York media event, 6pm

EARNINGS:

    • Dish Network (DISH) 6am, $0.51
    • EchoStar (SATS) 6am, $0.02
    • Six Flags Entertainment (SIX) 6am, $(0.58)
    • Cinemark Holdings (CNK) 6:36am, $0.39
    • Government Properties Income (GOV) 7am, $0.53
    • Lumber Liquidators Holdings (LL) 7am, $0.42
    • Dentsply International (XRAY) 7am, $0.55
    • DTE Energy (DTE) 7am, $0.86
    • MGM Resorts International (MGM) 7am, $(0.22)
    • Vantiv (VNTV) 7am, $0.34
    • Garmin (GRMN) 7am, $0.73
    • Lithia Motors (LAD) 7:30am, $0.66
    • Sonic Automotive (SAH) 7:30am, $0.51
    • Clean Harbors (CLH) 7:30am, $0.40
    • Devon Energy (DVN) 7:30am, $0.75
    • Owens Corning (OC) 7:30am, $0.16
    • Medicines Co (MDCO) 8am, $0.27
    • Iconix (ICON) 8am, $0.38
    • Ameren (AEE) 8am, $0.16
    • PVR Partners (PVR) 8:30am, $0.14
    • Eaton Vance (EV) 8:39am, $0.52
    • Acadia Healthcare (ACHC) 4pm, $0.19
    • Equity One (EQY) 4pm, $0.21
    • HomeAway (AWAY) 4pm, $0.13
    • Boston Beer (SAM) 4pm, $1.25
    • Walter Energy (WLT) 4pm, $(0.92)
    • Crocs (CROX) 4pm, $0.00
    • InterDigital (IDCC) 4:01pm, $0.06
    • Polypore International (PPO) 4:01pm, $0.52
    • Trinity Industries (TRN) 4:01pm, $0.84
    • Jack in the Box (JACK) 4:01pm, $0.39
    • Sunoco Logistics Partners (SXL) 4:01pm, $0.91
    • Williams Cos (WMB) 4:01pm, $0.25
    • Williams Partners (WPZ) 4:01pm, $0.48
    • MedAssets (MDAS) 4:04pm, $0.28
    • LaSalle Hotel Properties (LHO) 4:04pm, $0.45
    • Waste Connections (WCN) 4:04pm, $0.38
    • Clearwater Paper (CLW) 4:05pm, $0.75
    • Franklin Electric (FELE) 4:05pm, $0.54
    • acquarie Infrastructure (MIC) 4:05pm, $0.21
    • RealPage (RP) 4:05pm, $0.14
    • EXCO Resources (XCO) 4:05pm, $0.16
    • Fluor (FLR) 4:05pm, $0.97
    • Questar (STR) 4:05pm, $0.35
    • Synopsys (SNPS) 4:05pm, $0.55
    • Tesla Motors (TSLA) 4:06pm, $(0.57)
    • KBR (KBR) 4:09pm, $0.02
    • KAR Auction Services (KAR) 4:15pm, $0.19
    • STAG Industrial (STAG) 4:15pm, $0.30
    • Cheesecake Factory (CAKE) 4:15pm, $0.52
    • Concho Resources (CXO) 4:15pm, $1.00
    • Heico (HEI) 4:26pm, $0.40
    • Sauer-Danfoss (SHS) 4:30pm, NA
    • Yamana Gold (YRI CN) 4:30pm, C$0.26
    • Regency Energy Partners (RGP) 4:45pm, $0.07
    • Energy Transfer Equity (ETE) 4:45pm, $0.60
    • Energy Transfer Partners (ETP) 4:45pm, $0.40
    • Mullen Group Ltd (MTL CN) 5pm, C$0.38
    • Orient-Express Hotels (OEH) 5pm, $(0.03)
    • Healthcare Realty Trust (HR) 5:01pm, $0.32
    • SM Energy Co (SM) 5:30pm, $0.23
    • Helix Energy Solutions Group (HLX) 6pm, $0.36
    • Avista (AVA) 7:05pm, $0.45
    • Centerra Gold (CG CN) Post-Mkt, C$0.42
    • Curtiss-Wright (CW) Post-Mkt, $0.93
    • First Industrial Realty Trust (FR) Post-Mkt, $0.23
    • Healthcare Trust of America (HTA) Post-Mkt, $0.14
    • Hersha Hospitality Trust (HT) Post-Mkt, $0.10
    • Pan American Silver (PAA CN) Post-Mkt, $0.36
    • HudBay Minerals (HBM CN) Post-Mkt, C$0.03
    • Iamgold (IMG CN) Post-Mkt, C$0.25
    • Tronox Ltd (TROX) Post-Mkt, $(0.13)

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • World’s Biggest Wheat Buyer Steps Down From Egyptian Authority
  • No Women on Glencore’s Board Marks Mining Imbalance: Commodities
  • Copper Swings Between Gains and Declines as Inventories Expand
  • Gold Declines to Six-Month Low on Signs of Economic Improvement
  • WTI Crude Slips, Discount to Brent Narrows on Seaway Pipe Flows
  • Soybeans Reach One-Week High on Increasing Demand From China
  • Robusta Coffee Rebounds Amid Lack of Vietnam Sales; Sugar Falls
  • Egypt’s Wheat Tender Said to Get Offers From Only U.S. Supplies
  • BHP Names Mackenzie to Succeed Kloppers as Profit Declines
  • Harvesting Sewage Signaling Boon for Utilities to Skiers: Energy
  • U.S. to Ask China to Delay New Rules on Pork Imports, Group Says
  • Rebar Declines Amid Concern China May Curb Property Prices
  • Oil Inventories Climb for Fifth Week in Survey: Energy Markets
  • Copper Volatility Falls to 10-Year Low Amid ‘Super Cycle’ Debate

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