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
EQUITY SENTIMENT:
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
CURRENCIES
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team