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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