THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – May 6, 2013   

 

As we look at today's setup for the S&P 500, the range is 34 points or 1.51% downside to 1590 and 0.59% upside to 1624.

                                                                                               

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: 1.52 from 1.52
  • VIX  closed at 12.85 1 day percent change of -5.45%

MACRO DATA POINTS (Bloomberg Estimates):

  • Vornado Realty Trust (VNO) 5:17pm, $1.71
  • Otter Tail (OTTR) 6pm, $0.34
  • 9am: ECB’s Draghi speaks at university ceremony in Rome
  • 11am: Fed to purchase $2.75b-$3.5b debt in 2020-2023 sector
  • 11:30am: U.S. to sell $29b 3M bills, $24b 6M bills
  • Rates Weekly Agenda

GOVERNMENT:

    • House, Senate in session
    • Senate votes on bill that would let states impose sales taxes on out-of-state sellers, including online and catalog retailers
    • Washington Week Ahead

WHAT TO WATCH

  • JPMorgan investors urged to split chairman, oust directors
  • Alibaba seen avoiding Facebook flop with IPO below $100b
  • BMC said close to being taken private by Bain, Golden Gate
  • Goldman Sachs hire accused of secrets theft by Credit Suisse
  • TPG, Warburg said to consider both sale, IPO for Neiman
  • N.Y. plans new claims after JPMorgan mortgage suit template
  • GM plans to invest ~$16b in U.S. factories, facilities by 2016
  • Euro-area services, manufacturing shrink less than estimated
  • Intel to buy Finland’s Stonesoft for $389m in cash
  • Senate expected to vote on onlne sales-tax collection bill
  • Berkshire plans for life after Buffett at annual mtg
  • HP accused in lawsuit of ignoring Autonomy accounting warnings
  • Cameron said to speed up patent process to boost U.K. economy
  • “Iron Man 3” is 2nd-best opener w/ $175.3m in sales
  • U.S. Weekly Agendas: Finance, Industrials, Energy, Health, Consumer, Tech, Media/Ent, Real Estate, Transports
  • North American M&A Agenda
  • Canada Weekly Agendas: Energy, Mining
  • Bernanke, G-7, Pakistan Vote, News Corp.: Wk Ahead May 6-11

EARNINGS:

    • National Health Investors (NHI) 6am, $0.80
    • Westlake Chemical (WLK) 6am, $1.28
    • Gran Tierra Energy (GTE) 6am, $0.16
    • American Realty Capital (ARCP) 6:25am, $0.17
    • Apollo Global Management (APO) 7am, $1.23
    • Tyson Foods (TSN) 7:30am, $0.45
    • Mobile Mini (MINI) 7:30am, $0.22
    • E.W. Scripps (SSP) 7:30am, ($0.06)
    • Sysco (SYY) 8am, $0.43
    • PNM Resources (PNM) 8:30am, $0.20
    • NIC (EGOV) 4pm, $0.10
    • Vantiv (VNTV) 4pm, $0.30
    • WMS Industries (WMS) 4pm, $0.26
    • Martin Midstream Partners (MMLP) 4pm, $0.50
    • Alnylam Pharmaceuticals (ALNY) 4pm, $(0.28)
    • Frontier Communications (FTR) 4:01pm, $0.06
    • Hologic (HOLX) 4:01pm, $0.34
    • ProAssurance (PRA) 4:01pm, $0.76
    • Norwegian Cruise Line Holdings (NCLH) 4:01pm, $0.03
    • Retail Properties of America (RPAI) 4:01pm, $0.22
    • DCP Midstream Partners (DPM) 4:01pm, $0.64
    • Hudson Pacific Properties (HPP) 4:01pm, $0.22
    • STAG Industrial (STAG) 4:01pm, $0.32
    • Protective Life (PL) 4:01pm, $0.93
    • First Solar (FSLR) 4:02pm, $0.75 - Preview
    • Colony Financial (CLNY) 4:02pm, $0.33
    • Prospect Capital (PSEC) 4:03pm, $0.31
    • Parkway Properties (PKY) 4:04pm, $0.27
    • Anadarko Petroleum (APC) 4:05pm, $0.95
    • Plains All American (PAA) 4:05pm, $0.96
    • Santarus (SNTS) 4:05pm, $0.14
    • Interval Leisure Group (IILG) 4:05pm, $0.40
    • Insulet (PODD) 4:05pm, $(0.21)
    • Ruckus Wireless (RKUS) 4:05pm, $0.04
    • Forest Oil (FST) 4:05pm, $0.02
    • Energy XXI Bermuda (EXXI) 4:05pm, $0.48
    • PAA Natural Gas Storage (PNG) 4:07pm, $0.23
    • Sunstone Hotel Investors (SHO) 4:15pm, $0.09
    • Legacy Reserves (LGCY) 4:30pm, $0.30
    • Scotts Miracle-Gro (SMG) 4:35pm, $2.00
    • First Quantum Minerals (FM CN) 5pm, $0.28 - Preview
    • Tesoro Logistics (TLLP) 5pm, $0.48
    • EOG Resources (EOG) 5:01pm, $1.19
    • PS Business Parks (PSB) 5:03pm, $1.22
    • Liberty Global (LBTYA) 5:07pm, $0.24

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Rises to One-Month High as Syria Says Attacked by Israel
  • Gold Bulls Split With Buffett as Traders Say Sell: Commodities
  • Palm Stockpiles Dropping to Nine-Month Low Seen Boost for Prices
  • Gold Advances for Third day Toward Highest Price Since Rout
  • Vietnam’s Central Bank Imports Gold to Bolster Official Reserves
  • U.S. Winter-Wheat Crop to Fall to Two-Year Low, Survey Says
  • Palm Oil Ends Near Three-Year Low as Ringgit Gains on Elections
  • Copper Drops on Comex After Jumping Most Since ’11; Shanghai Up
  • Gold ETF Tumbling as Agriculture Fund Rallies: Chart of the Day
  • Saudi Aramco Raises June Light Crude Premium for Asian Buyers
  • EU Pollution Push in Disarray as Crisis Focus Sharpens: Energy
  • Golden Agri Seen Cheap LBO Target After Palm Oil Drop: Real M&A
  • Dollar Seen Rising 9% by Dealers Citing U.S. Growth: Currencies
  • Gold Seen Tumbling Toward Support at $1,227: Technical Analysis

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

 

 

 

 

 

 

 

 

 

 


Cartoon of the Day: Acrophobia

"Most people who are making a ton of money right now are focused on growth companies seeing accelerations," Hedgeye CEO Keith McCullough wrote in today's Early Look. "That’s what happens in Quad 1."

read more

People's Bank of China Spins China’s Bad-Loan Data

PBoC Deputy Governor Yi says China's non-performing loan problem has “pretty much stabilized." "Yi is spinning. China’s bad-debt problem remains serious," write Benn Steil and Emma Smith, Council on Foreign Relations.

read more

UnderArmour: 'I Am Much More Bearish Than I Was 3 Hours Ago'

“The consumer has a short memory.” Yes, Plank actually said this," writes Hedgeye Retail analyst Brian McGough. "Last time I heard such arrogance was Ron Johnson."

read more

Buffalo Wild Wings: Complacency & Lack of Leadership (by Howard Penney)

"Buffalo Wild Wings has been plagued by complacency and a continued lack of adequate leadership," writes Hedgeye Restaurants analyst Howard Penney.

read more

Todd Jordan on Las Vegas Sands Earnings

"The quarter actually beat lowered expectations. Overall, the mass segment performed well although base mass lagging is a concern," writes Hedgeye Gaming, Lodging & Leisure analyst Todd Jordan on Las Vegas Sands.

read more

An Update on Defense Spending by Lt. Gen Emo Gardner

"Congress' FY17 omnibus appropriation will fully fund the Pentagon's original budget request plus $15B of its $30B supplemental request," writes Hedgeye Potomac Defense Policy analyst Lt. Gen Emerson "Emo" Gardner USMC Ret.

read more

Got Process? Zero Hedge Sells Fear, Not Truth

Fear sells. Always has. Look no further than Zero Hedge.

read more

REPLAY: Review of $EXAS Earnings Call (A Hedgeye Best Idea Long)

Our Healthcare Team made a monster call to be long EXAS - hear their updated thoughts.

read more

Capital Brief: 5 Things to Watch Right Now In Washington

Here's a quick look at some key issues investors should keep an eye on from Hedgeye's JT Taylor and our team of Washington Policy analysts in D.C.

read more

Premium insight

[UNLOCKED] Today's Daily Trading Ranges

“If I could only have one thing of the many things we have it would be my daily ranges." Hedgeye CEO Keith McCullough said recently.

read more

We'll Say It Again: Leave Your Politics Out of Your Portfolio

If your politics dictates your portfolio positioning, the Democrats and #NeverTrump crowd out there have had a hell of a week.

read more

Cartoon of the Day: 'Biggest Tax Cut Ever'

President Donald Trump's economic team unveiled what he called last week, "the biggest tax cut we’ve ever had.” Before you get too excited about that hang on a sec. "Trump Tax Reform ain’t gettin’ done anytime soon," Hedgeye CEO Keith McCullough wrote in today's Early Look.

read more