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    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

TODAY’S S&P 500 SET-UP – March 22, 2013


As we look at today's setup for the S&P 500, the range is 23 points or 0.25% downside to 1542 and 1.24% upside to 1565.        

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 1.67 from 1.67
  • VIX  closed at 13.99 1 day percent change of 10.42%

MACRO DATA POINTS (Bloomberg Estimates):

  • 11am: Fed to purchase $3b-$3.75b notes 2018-2020 range
  • 12pm: Revisions to Fed’s industrial production data
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • Obama to meet w/ King Abdullah II of Jordan
    • 7:30am: Fed Gov. Sarah Bloom Raskin, CFPB Director Richard Cordray, FDIC Chairman Martin Gruenberg speak at Natl Community Reinvestment Coalition conf.

WHAT TO WATCH

  • BlackBerry Z10’s U.S. debut marks biggest test of comeback
  • Dell go-shop period for other offers expires today
  • FCC Chairman Julius Genachowski said to be leaving agency
  • Cyprus lawmakers to debate bailout bill as deadline looms
  • Euro area said to weigh closing Cyprus banks, asset freeze
  • Boeing faulted by 787 investigators for battery fix comments
  • Samsung said to be in talks to sell Liquavista to Amazon
  • Sharp extends deadline for 2nd Qualcomm payment to June 28
  • Citigroup says pay plan holders rejected helped keep Corbat
  • Life sale said to shift to strategies; some buyout firms exit
  • German business confidence unexpectedly drops from 10-mo. high
  • Australia probes pricing by Apple, other tech cos.
  • Goldman Sachs raises U.S., Japan growth forecasts
  • Deutsche Bank, Goldman miss $129m fee in Evonik IPO snub
  • U.S. Spending, Supreme Court, BRICS, AMR: Wk Ahead March 23-30

EARNINGS:

    • Tiffany (TIF) 6:59am, $1.36
    • Stella-Jones (SJ CN) 7am, C$0.93
    • Darden Restaurants (DRI) 7am, $1.01

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Brent Crude Set for Second Weekly Drop to Shrink Premium to WTI
  • Gold Seen Extending Rebound as Cyprus Revives Bulls: Commodities
  • Biggest Crisis Since 2008 Looms for South African Mines: Energy
  • Gold Falls From 3-Week High as ETP Drop Overshadows Cyprus Woes
  • Palm Oil Heads for Weekly Gain as Inventories Seen Declining
  • Industrial Metals Advance as Economies in U.S., China Improve
  • Rubber Declines for Second Week on Yen, Europe Debt Concerns
  • China Soybean Imports Seen Lower Than USDA Forecast Amid Delays
  • Copper Fees Climb in Shanghai as Metal Seen Moving to Malaysia
  • Rebar Declines as Demand Seen Curbed by Slowing Chinese Economy
  • Diesel Best Returns in Two Years Waning on China: Energy Markets
  • Brazil Gold Allure Puts Australia’s Beadell in Play: Real M&A
  • Traders Cut Paulson Gold Favorite on Liquidity: Chart of the Day
  • Mistry Sees Palm Rally Through May on Ringgit, Reserves Drop

THE HEDGEYE DAILY OUTLOOK - 5

 

CURRENCIES


THE HEDGEYE DAILY OUTLOOK - 6

GLOBAL PERFORMANCE

THE HEDGEYE DAILY OUTLOOK - 3

THE HEDGEYE DAILY OUTLOOK - 4

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