THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – April 30, 2013  

As we look at today's setup for the S&P 500, the range is 33 points or 1.48% downside to 1570 and 0.59% upside to 1603.

                                                                                               

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: 1.45 from 1.46
  • VIX  closed at 13.71 1 day percent change of 0.73%

MACRO DATA POINTS (Bloomberg Estimates):

  • FOMC opens two-day meeting
  • 7:45am: ICSC weekly sales
  • 8:30am: Employment Cost Index, 1Q, est. 0.5% (prior 0.5%)
  • 8:55am: Johnson/Redbook weekly sales
  • 9am: NAPM-Milwaukee, April (prior 50.98)
  • 9am: S&P/CS 20 cities, M/m SA, Feb., est. 0.80%
  • 9am:S&P/CS Composite 20 cities, Y/y, Feb., est. 8.90%
  • 9am: S&P/CaseShiller Home Price Index, Feb. (prior 146.14)
  • 9:45am: Chicago Purchasing Manager, April, est. 52.6
  • 10am: Consumer Confidence, April, est. 60.0 (prior 59.7)
  • 11am: Fed to purchase $4.25b-$5.25b notes in 2017 sector
  • 11:30am: U.S. to sell 4W bills, $23b 52W bills
  • 4:30pm: API energy inventories

GOVERNMENT:

    • House meets in pro forma session, Senate not in session
    • Federal Open Market Cmte meets on eco, interest rates, 9am
    • Bloomberg LINK holds Washington Summit w/ CFTC Chairman Gary Gensler, FCC Chairman Julius Genachowski, Lazard Vice Chairman Gary Parr, White House CEA Alan Krueger, CAP Chairman John Podesta, Va. Gov. Bob McDonnell, 8am

WHAT TO WATCH

  • KKR said to weigh bid for Rio Tinto Australia copper mine stake
  • Best Buy exits Europe with sale of stake to Carphone Warehouse
  • CBOE plans post mortem on response, procedures amid outage
  • BofA urges dismissal of U.S.’s $1b faulty mortgages suit
  • Time Warner Cable appoints AOL’s Minson CFO as Esteves departs
  • MBIA bid for pretrial ruling in Countrywide lawsuit is rejected
  • UBS 1Q profit beats ests. on investment bank
  • BP 1Q profit beats analyst estimates on trading
  • Deutsche Bank seeks $6.5b as co-CEO Jain reverses course
  • AB InBev’s quarterly results miss estimates on Brazil, U.S.
  • Heinz holders vote on acquisition by Berkshire, 3G Capital
  • Heinz wins ruling tossing investor suits over Berkshire buyout
  • Suncor Energy 1Q operating EPS beats est.
  • US Airways-AMR in talks on credit cards w/Barclays, Citigroup
  • German unemployment climbs in sign economic recovery delayed
  • Japan-to-Korea output misses estimates as Taiwan cools

EARNINGS:

      • Enterprise Products Partners (EPD) 6am, $0.65
      • Aetna (AET) 6am, $1.38
      • Starwood Hotels & Resorts Worldwide (HOT) 6am, $0.53
      • Huntsman (HUN) 6am, $0.16
      • Norbord (NBD CN) 6am, $1.36
      • NiSource (NI) 6:30am, $0.71
      • CGI Group (GIB/A CN) 6:30am, C$0.49
      • Rockwood Holdings (ROC) 6:30am, $0.67
      • Harris (HRS) 6:30am, $1.12
      • Pitney Bowes (PBI) 6:30am, $0.44
      • Cummins (CMI) 6:44am, $1.86
      • Legg Mason (LM) 6:59am, $0.20
      • Pfizer (PFE) 7am, $0.55
      • Thomson Reuters (TRI CN) 7am, $0.32
      • Sirius XM Radio (SIRI) 7am, $0.02
      • Fidelity National Information Services (FIS) 7am, $0.61
      • Cobalt International Energy (CIE) 7am, ($0.14)
      • Wisconsin Energy (WEC) 7am, $0.71
      • Avon Products (AVP) 7am, $0.14
      • TRW Automotive Holdings (TRW) 7am, $1.43
      • Xylem (XYL) 7am, $0.27
      • Oshkosh (OSK) 7am, $0.86
      • MGIC Investment (MTG) 7am, ($0.14)
      • Office Depot (ODP) 7am, $0.04
      • Marathon Petroleum (MPC) 7:03am, $2.17
      • McGraw-Hill (MHP) 7:10am, $0.73
      • MeadWestvaco (MWV) 7:15am, $0.24
      • NextEra Energy (NEE) 7:30am, $1.02
      • Public Service Enterprise Group (PEG) 7:30am, $0.74
      • Invesco (IVZ) 7:30am, $0.47
      • Tenet Healthcare (THC) 7:30am, $0.30
      • Domino’s Pizza (DPZ) 7:30am, $0.55
      • Vishay Intertechnology (VSH) 7:30am, $0.11
      • Valero Energy (VLO) 7:42am, $0.99
      • U.S. Steel (X) 7:45am, ($0.22)
      • Affiliated Managers Group (AMG) 7:54am, $2.03
      • HCP (HCP) 8am, $0.72
      • UDR (UDR) 8am, $0.33
      • AGL Resources (GAS) 8am, $1.34
      • BOK Financial (BOKF) 8am, $1.18
      • Hudson City Bancorp (HCBK) 8am, $0.11
      • 3D Systems (DDD) 8am, $0.21
      • Arcos Dorados Holdings (ARCO) 8am, $0.06
      • Agco (AGCO) 8:15am, $0.88
      • Martin Marietta Materials (MLM) 8:15am, ($0.35)
      • Ecolab (ECL) 8:20am, $0.59
      • Franklin Resources (BEN) 8:30am, $2.49
      • Zoetis (ZTS) Pre-mkt, $0.33
      • Arthur J Gallagher (AJG) Pre-mkt, $0.24
      • Athabasca Oil (ATH CN) Pre-mkt, (C$0.03)
      • Edison International (EIX) 4pm, $0.66
      • Vertex Pharmaceuticals (VRTX) 4pm, ($0.21)
      • Western Union (WU) 4pm, $0.32
      • SolarWinds (SWI) 4pm, $0.37
      • Regal Entertainment Group (RGC) 4pm, $0.13
      • AvalonBay Communities (AVB) 4:01pm, ($0.63)
      • Fiserv (FISV) 4:01pm, $1.34
      • Canadian Oil Sands (COS CN) 4:01pm, C$0.42
      • Amdocs (DOX) 4:01pm, $0.72
      • Flextronics International (FLEX) 4:01pm, $0.13
      • IAC/InterActiveCorp (IACI) 4:01pm, $0.68
      • DreamWorks Animation (DWA) 4:01pm, ($0.03)
      • EXCO Resources (XCO) 4:01pm, $0.08
      • NCR (NCR) 4:02pm, $0.42
      • Oneok Partners (OKS) 4:05pm, $0.58
      • Oneok (OKE) 4:05pm, $0.59
      • Trimble Navigation (TRMB) 4:05pm, $0.38
      • QEP Resources (QEP) 4:05pm, $0.30
      • Questar (STR) 4:05pm, $0.43
      • Questcor Pharmaceuticals (QCOR) 4:06pm, $0.96
      • Verisk Analytics (VRSK) 4:10pm, $0.53
      • Genworth Financial (GNW) 4:10pm, $0.28
      • Access Midstream Partners (ACMP) 4:15pm, $0.34
      • Fortinet (FTNT) 4:15pm, $0.10
      • Yamana Gold (YRI CN) 4:20pm, $0.18
      • TECO Energy (TE) 4:24pm, $0.17
      • FMC (FMC) 4:30pm, $1.07
      • Willis Group Holdings PLC (WSH) 4:30pm, $1.31
      • Jones Lang LaSalle (JLL) 4:30pm, $0.23
      • Genworth MI Canada (MIC CN) 4:31pm, $0.81
      • Equity Residential (EQR) 4:55pm, $0.65
      • DDR (DDR) 5pm, $0.26
      • Boston Properties (BXP) 5:09pm, $1.21
      • SM Energy Co (SM) 5:30pm, $0.57
      • UGI (UGI) Post-mkt, $1.44
      • American Capital (ACAS) Post-mkt, $0.28
      • Manitowoc (MTW) Post-mkt, $0.14

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Rush From Dubai to Turkey Saps Supply as Premiums Jump
  • Lumber Mills Expand as Prices Rise Most Since 1993: Commodities
  • WTI Crude Heads for Monthly Decline as Stockpiles Seen Rising
  • Gold Swings Between Gains and Losses Before Policy Makers Meet
  • Copper Heads for Biggest Decline Since May on Demand Concern
  • Corn Extends Biggest Gain Since June as Rain Slows U.S. Planting
  • Sugar Climbs With Grains Before May Futures Expiry; Cocoa Falls
  • Perth Mint Works Through Weekend to Meet Most Demand Since 2008
  • Noble Group Said to Hire Former Goldman Trader Evans for Metals
  • India May Consider Cutting Wheat Export Price to Boost Shipments
  • Greeks Bet Ship Rout Ending With Most Orders Since 2008: Freight
  • Voestalpine Sees Steel Recovery Taking Until 2014 on Europe Glut
  • Crude Stockpiles Gain in Survey as Output Climbs: Energy Markets
  • Gold Exchange-Traded Products Poised for Record Monthly Decline

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