TODAY’S S&P 500 SET-UP – April 25, 2013
As we look at today's setup for the S&P 500, the range is 31 points or 0.94% downside to 1564 and 1.03% upside to 1595.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 1.48 from 1.48
- VIX VIX closed at 13.61 1 day percent change of 0.96%
MACRO DATA POINTS (Bloomberg Estimates):
- 8:30am: Init Jobless Claims, April 20, est. 350k (prior 352k)
- 8:30am: Cont Claims, April 13, est. 3.060m (prior 3.068m)
- 9:45am: Bloomberg Consumer Comfort, April 21 (prior -29.2)
- 10am: Freddie Mac mortgage rates
- 10:30am: EIA natural-gas storage change
- 11am: Kansas City Fed Manf. Acti, April, est. -1 (prior -5)
- 1pm: U.S. to sell $29b 7Y notes
GOVERNMENT:
- Senate may hold final vote on legislation allowing states to collect taxes on out-of-state sellers, including online and catalog retailers
- 8:30am: House Nuclear Cleanup Caucus briefing on Energy Dept’s 2013 cleanup program
- 10am: Senate Health, Education and Labor Cmte votes on nomination of Thomas Perez for Labor sec
- 10am: House Armed Svcs Cmte hears from Army Sec. John McHugh and Army Chief of Staff Raymond Odierno on the Army budget request
- 2:30pm: Treasury Sec. Jack Lew will hold open session of FSOC to vote on annual report; Fed Chairman Ben Bernanke, CFPB Dir. Richard Cordray, CFTC Chairman Gary Gensler, FDIC Chairman Martin Gruenberg, SEC Chairman Mary Jo White, others to attend
- 2:30pm: House Ways and Means panel hears from acting IRS Commissioner Steve Miller on 2013 tax filing season
WHAT TO WATCH
- Boeing 787 battery tests didn’t ensure against fire, NTSB says
- Samsung says demand for new Galaxy S4 more than anticipated
- Lockheed may win orders for up to 71 F-35s, Pentagon says
- Twitter said to plan bolstering user security after AP hacking
- Netflix will raise capital as needed to fund original programs
- Fiat said to target N.Y. primary listing in Italy retreat
- Verizon may bid $100b for Verizon Wireless: Reuters
- U.K. avoids triple-dip recession as economy expands 0.3%
- Spain jobless rate breaches 27% as recession crimps economy
- Lansdowne exits Prudential short after “meaningful” losses
- Criteo said to name JPMorgan for its U.S. IPO
EARNINGS
- Potash Corp of Saskatchewan (POT CN) 6am, $0.60
- Colfax (CFX) 6am, $0.24
- Ball (BLL) 6am, $0.65
- Helmerich & Payne (HP) 6am, $1.29
- Stanley Black & Decker (SWK) 6am, $0.96
- Precision Drilling (PD CN) 6am, C$0.29
- Patterson-UTI Energy (PTEN) 6am, $0.36
- Diamond Offshore Drilling (DO) 6am, $1.16
- United Therapeutics (UTHR) 6am, $1.46
- Time Warner Cable (TWC) 6am, $1.37
- Alamos Gold (AGI CN) 6am, $0.20
- NorthWestern (NWE) 6am, $0.94
- Proto Labs (PRLB) 6am, $0.31
- LPL Financial Holdings (LPLA) 6am, $0.55
- Dunkin’ Brands (DNKN) 6am, $0.29
- Cash America International (CSH) 6am, $1.36
- Chart Industries (GTLS) 6am, $0.66
- Southwest Airlines (LUV) 6:30am, $0.02
- Alexion Pharmaceuticals (ALXN) 6:30am, $0.60
- Bunge (BG) 6:30am, $0.91
- RR Donnelley (RRD) 6:30am, $0.33
- PulteGroup (PHM) 6:30am, $0.15
- Carter’s (CRI) 6:30am, $0.69
- World Acceptance (WRLD) 6:30am, $3.06
- WABCO Holdings (WBC) 6:30am, $1.07
- Colgate-Palmolive (CL) 7am, $1.32
- Altria Group (MO) 7am, $0.53
- Raytheon (RTN) 7am, $1.28
- AmerisourceBergen (ABC) 7am, $0.88
- DST Systems (DST) 7am, $1.08
- CONSOL Energy (CNX) 7am, $0.21
- Zimmer Holdings (ZMH) 7am, $1.40
- Dana Holding (DAN) 7am, $0.42
- First American Financial (FAF) 7am, $0.42
- Bemis (BMS) 7am, $0.54
- Boston Scientific (BSX) 7am, $0.09
- Dow Chemical (DOW) 7am, $0.61
- Entergy (ETR) 7am, $0.83
- EQT (EQT) 7am, $0.53
- Harley-Davidson (HOG) 7am, $0.99
- Hershey (HSY) 7am, $1.04
- Sigma-Aldrich (SIAL) 7am, $1.00
- Biogen Idec (BIIB) 7am, $1.63
- Old Dominion Freight Line (ODFL) 7am, $0.42
- Colonial Properties Trust (CLP) 7am, $0.34
- AMETEK (AME) 7am, $0.51
- L-3 Communications (LLL) 7am, $1.93
- Linn Energy (LINE) 7am, $0.24
- Lear (LEA) 7am, $1.10
- Nielsen Holdings (NLSN) 7am, $0.36
- EQT Midstream Partners (EQM) 7am, $0.48
- LinnCo LLC (LNCO) 7am, $0.32
- Lancaster Colony (LANC) 7:05am, $0.80
- Mack-Cali Realty (CLI) 7:10am, $0.64
- Noble Energy (NBL) 7:24am, $1.25
- Bristol-Myers Squibb (BMY) 7:30am, $0.42
- Dominion Resources (D) 7:30am, $0.89
- Domtar (UFS) 7:30am, $1.46
- 3M (MMM) 7:30am, $1.65
- Cameron International (CAM) 7:30am, $0.75
- CMS Energy (CMS) 7:30am, $0.51
- Coca-Cola Enterprises (CCE) 7:30am, $0.38
- Occidental Petroleum (OXY) 7:30am, $1.54
- Parker Hannifin (PH) 7:30am, $1.67
- SCANA (SCG) 7:30am, $1.04
- Celgene (CELG) 7:30am, $1.35
- Level 3 Communications (LVLT) 7:30am, $(0.17)
- Graphic Packaging Holding (GPK) 7:30am, $0.08
- JetBlue Airways (JBLU) 7:30am, $0.10
- LKQ (LKQ) 7:30am, $0.29
- Hercules Offshore (HERO) 7:30am, $(0.04)
- United Continental (UAL) 7:30am, $(1.09)
- Mead Johnson Nutrition (MJN) 7:30am, $0.86
- Revlon (REV) 7:30am, $0.26
- EMCOR Group (EME) 7:30am, $0.44
- Brunswick (BC) 7:35am, $0.63
- United Parcel Service (UPS) 7:45am, $1.01
- AltaGas (ALA CN) 7:45am, C$0.53
- United Bankshares (UBSI) 7:50am, $0.43
- Landstar System (LSTR) 7:50am, $0.57
- Avnet (AVT) 8am, $0.87
- Trimas (TRS) 8am, $0.41
- Meredith (MDP) 8am, $0.68
- ConocoPhillips (COP) 8am, $1.42
- Imperial Oil (IMO CN) 8am, C$0.95
- BorgWarner (BWA) 8am, $1.24
- Rayonier (RYN) 8am, $0.60
- KKR (KKR) 8am, $0.80
- Cabela’s (CAB) 8am, $0.59
- SunCoke Energy (SXC) 8am, $0.05
- Marriott Vacations Worldwide (VAC) 8am, $0.44
- Alaska Air Group (ALK) 8am, $0.56
- Carpenter Technology (CRS) 8am, $0.74
- Kennametal (KMT) 8am, $0.71
- Brink’s (BCO) 8am, $0.31
- Life Time Fitness (LTM) 8am, $0.65
- Exxon Mobil (XOM) 8:04am, $2.05
- Belo (BLC) 8:30am, $0.15
- Deluxe (DLX) 8:30am, $0.87
- GATX (GMT) 8:30am, $0.70
- Valassis Communications (VCI) 8:30am, $0.73
- New York Times (NYT) 8:30am, $0.04
- Royal Caribbean Cruises (RCL) 8:30am, $0.19
- Sun Communities (SUI) 8:30am, $0.91
- PVR Partners (PVR) 8:30am, $0.06
- Reliance Steel & Aluminum (RS) 8:50am, $1.14
- Old Republic International (ORI) 9am, $(0.04)
- Safeway (SWY) 9am, $0.35
- Realty Income (O) 9:15am, $0.58
- InterDigital (IDCC) Bef-mkt, $(0.19)
- Tessera Technologies (TSRA) Bef-mkt, $(0.63)
- Shoppers Drug Mart (SC CN) Bef-mkt, C$0.59
- Baidu (BIDU) 4pm, $6.52
- Cirrus Logic (CRUS) 4pm, $0.58
- Maxim Integrated Products (MXIM) 4pm, $0.41
- ResMed (RMD) 4pm, $0.56
- Columbia Sportswear (COLM) 4pm, $0.14
- TFS Financial (TFSL) 4pm, $0.02
- CBRE Group (CBG) 4pm, $0.17
- VCA Antech (WOOF) 4pm, $0.37
- Clearwire (CLWR) 4pm, $(0.27)
- Freescale Semiconductor (FSL) 4pm, $(0.10)
- Chubb (CB) 4pm, $1.74
- Cincinnati Financial (CINF) 4pm, $0.67
- Deckers Outdoor (DECK) 4pm, $(0.10)
- Simpson Manufacturing (SSD) 4pm, $0.18
- Principal Financial (PFG) 4pm, $0.74
- Informatica (INFA) 4pm, $0.31
- Amazon.com (AMZN) 4pm, $0.10
- NETGEAR (NTGR) 4pm, $0.52
- Molina Healthcare (MOH) 4pm, $0.25
- Expedia (EXPE) 4pm, $0.23
- Hittite Microwave (HITT) 4pm, $0.56
- Microsemi (MSCC) 4pm, $0.40
- BioMarin Pharmaceutical (BMRN) 4pm, $(0.31)
- Cerner (CERN) 4:01pm, $0.63
- Coinstar (CSTR) 4:01pm, $0.86
- National Instruments (NATI) 4:01pm, $0.19
- Pebblebrook Hotel Trust (PEB) 4:01pm, $0.17
- Federated Investors (FII) 4:02pm, $0.42
- Wynn Resorts (WYNN) 4:02pm, $1.55
- Starbucks (SBUX) 4:03pm, $0.48
- VeriSign (VRSN) 4:05pm, $0.54
- PerkinElmer (PKI) 4:05pm, $0.48
- Leggett & Platt (LEG) 4:05pm, $0.38
- Superior Energy Services (SPN) 4:05pm, $0.40
- PMC-Sierra (PMCS) 4:05pm, $0.08
- Ingram Micro (IM) 4:05pm, $0.43
- Theravance (THRX) 4:05pm, $(0.38)
- Dolby Laboratories (DLB) 4:05pm, $0.71
- Axis Capital Holdings (AXS) 4:05pm, $1.19
- NetSuite (N) 4:05pm, $0.03
- QLIK Technologies (QLIK) 4:05pm, $(0.12)
- Republic Services (RSG) 4:05pm, $0.41
- KBR (KBR) 4:10pm, $0.47
- KLA-Tencor (KLAC) 4:15pm, $0.86
- Altera (ALTR) 4:15pm, $0.33
- MICROS Systems (MCRS) 4:15pm, $0.61
- SVB Financial Group (SIVB) 4:15pm, $0.88
- Synaptics (SYNA) 4:15pm, $0.57
- Validus Holdings (VR) 4:15pm, $1.42
- International Game Technology (IGT) 4:15pm, $0.30
- Eastman Chemical (EMN) 4:30pm, $1.57
- HealthSouth (HLS) 4:30pm, $0.40
- Skyworks Solutions (SWKS) 4:30pm, $0.47
- West (WSTC) 4:45pm, no est.
- Reinsurance Group of America (RGA) 5pm, $1.61
- Hancock Holding (HBHC) 5pm, $0.60
- Agnico-Eagle Mines (AEM CN) 5pm, $0.31
- Taubman Centers (TCO) 5pm, $0.85
- Aptargroup (ATR) 5pm, $0.66
- West Fraser Timber (WFT CN) 5pm, C$2.15
- Universal Health Services (UHS) 5:01pm, $1.17
- Minerals Technologies (MTX) 5:01pm, $0.51
- Range Resources (RRC) 5:15pm, $0.30
- First Industrial Realty Trust (FR) 7:50pm, $0.26
- Olin (OLN) Aft-mkt, $0.46
- Key Energy Services (KEG) Aft-mkt, $0.04
- Washington REIT (WRE) Aft-mkt, $0.46
- Iberiabank (IBKC) Aft-mkt, $0.68
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Gold Advances to 10-Day High as Central Banks Join Other Buyers
- Gold Rout for Central Banks Buying Most Since 1964: Commodities
- WTI Trades Near Two-Week High; Discount to Brent Shrinks to $10
- U.S. Mint Sales of Gold Coins at Three-Year High on Prices
- Shanghai Copper Trade Jumps as Bear Market Brings Volatility
- Soybeans Rebound on Speculation China Is Buying U.S. Supplies
- Texas University Fund Sold $375 Million in Gold-Bar Holdings
- Palm Oil Climbs a Third Day as Rising Exports May Trim Reserves
- No End to Power Rout as Carbon Market Vote Fails: Energy Markets
- Olam to Cut Spending, Sell Assets After Muddy Waters Attack
- Gold Seen Plunging to $1,300 on Bear Flag: Technical Analysis
- Oil’s Big Five Squeezed by Crude Drop as Spending Soars: Energy
- Asia Copper Premiums Set to Gain on China Buying, Warehouse Fees
- Russia, Kazakhstan Boost Gold Reserves for Sixth Straight Month
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team