THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – April 5, 2013


As we look at today's setup for the S&P 500, the range is 25 points or 0.70% downside to 1549 and 0.90% upside to 1574.     

                                                                                                                          

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: 1.53 from 1.54
  • VIX closed at 13.89 1 day percent change of -2.25%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Trade Balance, Feb., est. -$44.6b (prior -$44.4b)
  • 8:30am: Nonfarm Payrolls Change, March, est. 190k (pr 236k)
  • 8:30am: Unemployment Rate, March, est. 7.7% (prior 7.7%)
  • 1:30pm: Baker Hughes rig count
  • 2:30pm: Philadelphia Fed vice president Nason speaks
  • 3pm: Consumer Credit, Feb., est. $15b (prior $16.15b)

GOVERNMENT:

    • CFTC holds closed meeting on surveillance and enforcement matters, 10am
    • Talks resume on Iran’s nuclear weapons program in Kazakhstan

WHAT TO WATCH

  • Payrolls in U.S. probably rose in March as demand picked up
  • Blackstone said to sidestep Michael Dell’s role in buyout talks
  • Soros joins Gross in warning Kuroda plan risks rout in yen
  • BP to ask judge to halt some oil spill settlement payments
  • Olam to discontinue legal action against Muddy Waters, Block
  • Euro-area Feb. retail sales fell less than est. from Jan.
  • German Feb. factory orders may rise from Jan.: survey
  • Grohe owners said to mull IPO, sale of bathroom fixtures maker
  • Banks warn stricter securitization rules risk credit drought
  • North Korea regime uncertain, maintains stability: South Korea
  • Japan considers shooting down North Korea missile: Sankei
  • U.S. budget, Bernanke, China, Masters: Wk Ahead April 6-13

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Set for Biggest Weekly Drop Since September Amid Iran Talks
  • Gold Traders Split With Bullion Nearing Bear Market: Commodities
  • Soybeans Fall for Third Day as Bird Flu in China May Hurt Demand
  • Platinum to Slump as Europe Car Sales Tumble: Chart of the Day
  • Copper Swings on Chile Export Curbs and Signs Economies Struggle
  • Cocoa Falls a 3rd Day as Rain May Help Crop; Sugar Also Declines
  • SGX to Introduce Iron Ore Futures as Investors Bet on China
  • Russian Grain Crop Seen by Rusagrotrans Up 28% in Coming Season
  • Le Fracking for Geothermal Heat Draws Ire of French Oil: Energy
  • Coal Strike Looms as Workers Protest Stake Sale: Corporate India
  • Meat Industry Renames Beef, Pork Cuts Before U.S. Grill Season
  • RIN Ethanol Price Risk Remains Skewed to Upside, Goldman Says
  • Aluminum Premiums Reach Record as Warehouse Releases Limited
  • Gold Trades Near 10-Month Low in London on Recovery Outlook

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

 

 

 

 

 

 

 

 

 

 


Cartoon of the Day: Bulls Leading the People

Investors rejoiced as centrist Emmanuel Macron edged out far-right Marine Le Pen in France's election day voting. European equities were up as much as 4.7% on the news.

read more

McCullough: ‘This Crazy Stat Drives Stock Market Bears Nuts’

If you’re short the stock market today, and your boss asks why is the Nasdaq at an all-time high, here’s the only honest answer: So far, Nasdaq company earnings are up 46% year-over-year.

read more

Who's Right? The Stock Market or the Bond Market?

"As I see it, bonds look like they have further to fall, while stocks look tenuous at these levels," writes Peter Atwater, founder of Financial Insyghts.

read more

Poll of the Day: If You Could Have Lunch with One Fed Chair...

What do you think? Cast your vote. Let us know.

read more

Are Millennials Actually Lazy, Narcissists? An Interview with Neil Howe (Part 2)

An interview with Neil Howe on why Boomers and Xers get it all wrong.

read more

6 Charts: The French Election, Nasdaq All-Time Highs & An Earnings Scorecard

We've been telling investors for some time that global growth is picking up, get long stocks.

read more

Another French Revolution?

"Don't be complacent," writes Hedgeye Managing Director Neil Howe. "Tectonic shifts are underway in France. Is there the prospect of the new Sixth Republic? C'est vraiment possible."

read more

Cartoon of the Day: The Trend is Your Friend

"All of the key trending macro data suggests the U.S. economy is accelerating," Hedgeye CEO Keith McCullough says.

read more

A Sneak Peek At Hedgeye's 2017 GDP Estimates

Here's an inside look at our GDP estimates versus Wall Street consensus.

read more

Cartoon of the Day: Green Thumb

So far, 64 of 498 companies in the S&P 500 have reported aggregate sales and earnings growth of 6.1% and 16.8% respectively.

read more

Europe's Battles Against Apple, Google, Innovation & Jobs

"“I am very concerned the E.U. maintains a battle against the American giants while doing everything possible to sustain so-called national champions," writes economist Daniel Lacalle. "Attacking innovation doesn’t create jobs.”

read more

An Open Letter to Pandora Management...

"Please stop leaking information to the press," writes Hedgeye Internet & Media analyst Hesham Shaaban. "You are getting in your own way, and blowing up your shareholders in the process."

read more