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    MARKET EDGES

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

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