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
EQUITY SENTIMENT:
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
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team