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