TODAY’S S&P 500 SET-UP – April 29, 2013
As we look at today's setup for the S&P 500, the range is 31 points or 0.96% downside to 1567 and 1.00% upside to 1598.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 1.46 from 1.45
- VIX closed at 13.61 1 day percent change of -0.07%
MACRO DATA POINTS (Bloomberg Estimates):
- 8:30am: Personal Income, March, est. 0.4% (prior 1.1%)
- 8:30am: Personal Spending, March, est. 0.1% (prior 0.7%)
- 8:30am: PCE Deflator M/m, March, est. -0.1% (prior 0.4%)
- 8:30am: PCE Core M/m, March, est. 0.1% (prior 0.1%)
- 10am: Pending Home Sales, M/m, March, est. 0.9% (prior -0.4%)
- 10am: Pending Home Sales, Y/y, March (prior 5.0%)
- 10:30am: Dallas Fed Manf. Activity, April (prior 7.4)
- 11am: Fed to buy $1.25b-$1.75b notes in 2036-2043 sector
- 11:30am: U.S. to sell $29b 3-mo. bills, $24b 6-mo. bills
- U.S. Rates Weekly Agenda
GOVERNMENT:
- House, Senate not in session
- Milken Institute hosts Global Conference, a gathering of 3000 leaders in business, finance, government, public policy. Speakers include Former U.K. Prime Minister Tony Blair, U.S. Congressional Majority Whip Eric Cantor
WHAT TO WATCH
- Bayer to buy Conceptus for $1.1b to add contraceptives
- JPMorgan names Zames sole COO as Bisignano joins First Data
- Valeant merger talks w/ Activis said to stall over pricing
- Mitsubishi UFJ said to seek Morgan Stanley’s trust business
- Capstone acquires BHP’s Arizona copper mine for $650m
- ANA to resume 787 scheduled service on June 1, CEO Ito Says
- China may approve 787 commercial service next month: WSJ
- Two hedge funds said to take stakes in JCPenney: N.Y. Post
- Jarden offers 90p-shr cash for Sprue Aegis
- “Pain & Gain” opens as wknd’s top movie with $20m
- Euro-area April economic confidence declines more than forecast
- China industrial profit growth slows as economic recovery wanes
- U.S. Weekly Agendas: Finance, Industrials, Energy, Health, Consumer, Tech, Media/Ent, Real Estate, Transports
- North American M&A Weekly Agenda
- Canada Weekly Agendas: Energy, Mining
- ECB, Fed, Facebook, Buffett, Derby: Wk Ahead April 29-May 4
EARNINGS:
- UNS Energy (UNS) 6am, $0.18
- Education Realty Trust (EDR) 6am, $0.14
- CNA Financial (CNA) 6am, $0.71
- Loews (L) 6am, $0.84
- Medidata Solutions (MDSO) 6:30am, $0.23
- Eaton (ETN) 6:30am, $0.78
- Roper Industries (ROP) 7am, $1.22
- Senior Housing Properties (SNH) 7am, $0.44
- OneBeacon Insurance (OB) 7am, $0.28
- Compass Minerals (CMP) 7am, $1.12
- Armstrong World Industries (AWI) 7am, $0.39
- Penske Automotive (PAG) 7:30am, $0.62
- Energen (EGN) 8am, $1.21
- Tenneco (TEN) 8am, $0.65
- Health Net (HNT) 8:15am, $0.41
- Mercury General (MCY) 8:30am, $0.47
- Old National Bancorp (ONB) 9am, $0.26
- Capitol Federal Financial (CFFN) 9am, $0.12
- Choice Hotels International (CHH) Bef-mkt, $0.27
- Extra Space Storage (EXR) Bef-mkt, $0.44
- International Rectifier (IRF) 4pm, $ (0.38)
- Integrated Device Technology (IDTI) 4pm, $0.01
- J&J Snack Foods (JJSF) 4pm, $0.63
- Cognex (CGNX) 4pm, $0.32
- CBL & Associates Properties (CBL) 4pm, $0.51
- Texas Roadhouse (TXRH) 4pm, $0.35
- Express Scripts Holding (ESRX) 4:01pm, $0.98 - Preview
- General Growth Properties (GGP) 4:01pm, $0.23
- Arch Capital Group (ACGL) 4:01pm, $0.96
- SBA Communications (SBAC) 4:01pm, $ (0.21)
- Buffalo Wild Wings (BWLD) 4:01pm, $0.99
- Allison Transmission (ALSN) 4:01pm, $0.19
- Wesco Aircraft Holdings (WAIR) 4:01pm, $0.27
- Plum Creek Timber (PCL) 4:02pm, $0.32
- Hanover Insurance (THG) 4:05pm, $1.05
- Alexandria Real Estate Equities (ARE) 4:05pm, $1.11
- Macquarie Infrastructure (MIC) 4:05pm, $0.32
- Riverbed Technology (RVBD) 4:05pm, $0.24
- HeartWare International (HTWR) 4:10pm, $ (1.21)
- Hertz Global Holdings (HTZ) 4:11pm, $0.17
- Hartford Financial Services (HIG) 4:15pm, $0.82
- CapitalSource (CSE) 4:15pm, $0.14
- PartnerRe (PRE) 4:15pm, $2.38
- Advent Software (ADVS) 4:15pm, $0.30
- Erie Indemnity (ERIE) 4:15pm, $0.73
- Community Health Systems (CYH) 4:30pm, $0.85
- Cleco (CNL) 4:35pm, $0.48
- Investors Bancorp (ISBC) 5pm, $0.24
- Masco (MAS) 5pm, $0.14
- Post Properties (PPS) 5:01pm, $0.70
- Newmont Mining (NEM) 5:03pm, $0.76 - Preview
- Jacobs Engineering Group (JEC) 10pm, $0.83
- Suncor Energy (SU CN) 10pm, $0.76
- Helen of Troy (HELE) Aft-mkt, $0.94
- Innophos Holdings (IPHS) Aft-mkt, $0.78
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Silver Slump Lures Buyers as Waiting Time Rises in Singapore
- Gold Bears Defy Rally as Goldman Closes Short Wager: Commodities
- WTI Crude Rises to Near Two-Week High; OPEC Basket Above $100
- Gold Climbs as Higher Physical Demand Counters Decline From ETPs
- Nickel Advances on Speculation of Producer Cuts; Lead Declines
- Corn Reaches a One-Week High Amid Speculation Planting Slowed
- Robusta Coffee Falls as Traders Sell After Rally; Cocoa Drops
- India Sugar Reserves at Five-Year High Set to Avert Imports
- Hedge Funds Raise Bullish Gas Bets for 10th Week: Energy Markets
- Palm Oil Snaps Four-Day Rally After Indonesia Cuts Export Tax
- Swiss Bank Pictet’s Water Fund Boosted by Mideast Shortage
- Copper Rout Spurs Chile Rate-Cut Bets as CDS Jumps: Andes Credit
- Keystone Pipeline Support Enlists Oil Firms to U.S. Jews: Energy
- Sugar Mills in Thailand Battle Strengthening Baht as Prices Drop
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team