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TODAY’S S&P 500 SET-UP – April 19, 2013


As we look at today's setup for the S&P 500, the range is 24 points or 0.56% downside to 1533 and 1.00% upside to 1557.     

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: 1.48 from 1.46
  • VIX closed at 17.56 1 day percent change of 6.36%

MACRO DATA POINTS (Bloomberg Estimates):

  • G-20 meeting of finance ministers, central bankers, Washington
  • 7:30am: ECB’s Weidmann, Germany’s Schaeuble hold press breakfast in Washington
  • 11am: Fed to purchase $1.25b-$1.75b in 2036-2043 sector
  • 12pm: Fed’s Stein speaks in Charlotte, N.C.
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • IMF/World Bank officially begin three-day spring meetings
    • 10am: Senate Judiciary Cmte holds hearing on immigration laws, w/ Homeland Security Sec Janet Napolitano
    • 2pm: State Dept releases 2012 Human Rights Reports

WHAT TO WATCH

  • Schaeuble says G-20 must honor deficit-cutting commitments
  • Blackstone is said to pull out of bidding for Dell
  • Softbank not planning higher Sprint bid, company executive says
  • Lenovo said to be in talks to buy IBM low-end server unit
  • FAA said ready to end Boeing 787 grounding as fix approved
  • U.S. bank profits disappoint most in 3 yrs as revenue falls
  • Fisker said to spend $660K on each $103K plug-in car built
  • Banker groups sue Treasury, IRS over account reporting rule
  • Viacom copyright suit against Google’s YouTube again dismissed
  • J.C. Penney’s operating chief joins talent head in departing
  • Pilot Corp. suspected of fraud in diesel rebates, FBI agent says
  • Humana fires law firm tied to alleged leak of Medicare decision
  • Toyota said to reveal plans to begin production of Lexus in U.S.
  • GDP, Apple, Exxon, BOJ, Iron Man 3: Week Ahead April 20-27
  • One Boston marathon bombing suspect dead, Federal official says 

EARNINGS:

    • Schlumberger (SLB) 6am, $0.98 - Preview
    • Baker Hughes (BHI) 6am, $0.62 - Preview
    • SunTrust Banks (STI) 6am, $0.61
    • General Electric (GE) 6:30am, $0.35 - Preview
    • Laboratory Corp of America (LH) 6:45am, $1.77
    • Honeywell International (HON) 7am, $1.14 - Preview
    • Genuine Parts (GPC) 7am, $0.98
    • Under Armour (UA) 7am, $0.03
    • Interpublic Group (IPG) 7am, ($0.13)
    • First Horizon National (FHN) 7am, $0.17
    • Kimberly-Clark (KMB) 7:15am, $1.34 - Preview
    • First Niagara Financial (FNFG) 7:15am, $0.17
    • State Street (STT) 7:21am, $0.93
    • Rockwell Collins (COL) 7:30am, $1.17
    • Manpower (MAN) 7:30am, $0.45
    • McDonald’s (MCD) 7:58am, $1.27 - Preview
    • TCF Financial (TCB) 8am, $0.19
    • Kansas City Southern (KSU) 8:01am, $0.88 - Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Gaining as Physical Demand Said to Be ‘Extraordinary’
  • Gold Traders Split on Outlook as Asian Jewelers Buy: Commodities
  • U.S. Wheat Faces Damage Threat as Plains See Another Freeze
  • Copper Set for Biggest Weekly Drop in 16 Months on Demand View
  • Palm Oil Posts Fourth Weekly Decline on Biofuel Demand Concern
  • WTI Crude Advances for a Second Day to Pare Third Weekly Decline
  • Cocoa Climbs After North America Grindings Gain; Sugar Declines
  • Monsoon Seen Normal in South Asia Set to Boost India Growth
  • Carbon-Intensive Investors Risk $6 Trillion ‘Bubble,’ Study Says
  • Crude May Fall on Weaker Economy as Output Gains, Survey Shows
  • California Power Facing Biggest Test Since Enron: Energy Markets
  • Biggest LBO Collapse Seen as Boon to Texas Power Market: Energy
  • Nickel Surplus Seen Bigger by Macquarie Than Forecast Last Month
  • Rebar Rises to Pare Weekly Loss, Supported by Iron Ore, Demand

THE HEDGEYE DAILY OUTLOOK - 5A

 

CURRENCIES


THE HEDGEYE DAILY OUTLOOK - 6A

GLOBAL PERFORMANCE

THE HEDGEYE DAILY OUTLOOK - 3

THE HEDGEYE DAILY OUTLOOK - 4A

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