THE HEDGEYE DAILY OUTLOOK

THE HEDGEYE DAILY OUTLOOK

 

TODAY’S S&P 500 SET-UP – May 7, 2013     

As we look at today's setup for the S&P 500, the range is 26 points or 1.39% downside to 1595 and 0.22% upside to 1621.

                                                                                               

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10A


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 1.56 from 1.55
  • VIX  closed at 12.66 1 day percent change of -1.48%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:45am: ICSC weekly sales
  • 8:55am: Johnson/Redbook weekly sales
  • 10am: IBD/TIPP Economic Optimism, May, est 47.3 (prior 46.2)
  • 10am: JOLTs Job Openings, March (prior 3.925m)
  • 11am: Fed to purchase $1.25b-$1.75b debt in 2036-2043 sector
  • 11:30am: U.S. to sell 4W bills
  • 1pm: U.S. to sell $32b 3Y notes
  • 3pm: Consumer Credit, March, est. $16b (prior $18.139b)
  • 4:30pm: API energy inventories

GOVERNMENT:

    • President Obama meets w/ S. Korean President Park Geun-Hye
    • House, Senate in session
    • U.S. Court of Appeals for the D.C. Circuit hears arguments in Texas challenge to EPA over federal takeover of state’s carbon-emission rules, 9:30am
    • House Science, Space and Technology subcmte holds hearing on Keystone pipeline, 10am
    • Bill Clinton, Microsoft’s Bill Gates discuss America’s future at Peterson Foundation Fiscal Summit
    • Carlos Edwards, chief of security operations and engineering at the SEC, speaks at Intl Information Systems Security Certification Consortium, 11am
    • Special election for vacant House seat in S.C., race pits former Republican Gov. Mark Sanford against Democratic nominee Elizabeth Colbert Busch, sister of political satirist Stephen Colbert; Polls close 7pm
    • Pre-trial hearing for Pfc. Bradley Manning, charged w/ aiding enemy, wrongfully causing intelligence to be published on Internet, 3pm
    • Dalai Lama gives lecture on peace at Univ. of Maryland

WHAT TO WATCH

  • Swap regulators face Congressional pressure to curb Dodd-Frank
  • 12 banks sued over claims they restrained credit swap market
  • Arrowgrass said to snub Freeport bid after buying Plains stake
  • Senate passes WMT-backed bill letting states tax Web sales
  • GM wins approval to build $1.3b Cadillac plant in China
  • YouTube said to plan $1.99 subscription channels in coming wks
  • Pfizer selling Viagra at website to combat fake versions
  • Microsoft sells 100m Windows 8 licenses, preparing update
  • Pentagon awards drop 52%; U.S. automatic cuts trigger slowdown
  • PG&E should pay $2.25b for California blast, agency says
  • Hertz holders including CDR, Carlyle to sell 49.8m shrs
  • Pandora says 40-hr cap on mobile listening cuts content costs

EARNINGS:

    • Cimarex Energy (XEC) 6am, $1.06
    • Towers Watson (TW) 6am, $1.49
    • Emerson Electric (EMR) 6:30am, $0.78 - Preview
    • Nationstar Mortgage Holdings (NSM) 6:30am, $0.73
    • NRG Energy (NRG) 6:40am, ($0.29)
    • Henry Schein (HSIC) 6:51am, $1.07
    • Fossil (FOSL) 6:59am, $0.97
    • Husky Energy (HSE CN) 7am, C$0.53
    • Discovery Communications (DISCA) 7am, $0.64
    • HollyFrontier (HFC) 7am, $1.77
    • TransDigm Group (TDG) 7am, $1.73
    • Fortis Inc/Canada (FTS CN) 7am, C$0.65
    • Hospitality Properties Trust (HPT) 7am, $0.74
    • Endo Health Solutions (ENDP) 7am, $1.08
    • AECOM Technology (ACM) 7am, $0.51
    • Broadridge Financial Solutions (BR) 7am, $0.32
    • OfficeMax (OMX) 7am, $0.23
    • International Flavors & Fragrances (IFF) 7:02am, $1.13
    • DIRECTV (DTV) 7:30am, $1.09
    • Health Care REIT (HCN) 7:30am, $0.90
    • Molson Coors Brewing (TAP) 7:30am, $0.34
    • Westjet Airlines (WJA CN) 7:30am, C$0.64
    • Quicksilver Resources (KWK) 7:30am, ($0.01)
    • Ariad Pharmaceuticals (ARIA) 7:35am, ($0.37)
    • Cinemark Holdings (CNK) 7:37am, $0.24
    • CommVault Systems (CVLT) 7:40am, $0.34
    • Perrigo (PRGO) 7:45am, $1.44
    • Inergy Midstream (NRGM) 7:45am, $0.13
    • Inergy (NRGY) 7:46am, $0.05
    • Charter Communications (CHTR) 8am, ($0.46)
    • George Weston (WN CN) 8am, C$0.92
    • Ares Capital (ARCC) 8am, $0.40
    • Louisiana-Pacific (LPX) 8am, $0.45
    • FirstEnergy (FE) 8:25am, $0.69
    • Oaktree Capital Group LLC (OAK) 8:30am, $1.53
    • Isis Pharmaceuticals (ISIS) 8:30am, ($0.06)
    • Emera (EMA CN) 9:52am, $0.67
    • CI Financial (CIX CN) 11:27am, $0.36
    • Mondelez International (MDLZ) 4pm, $0.33 - Preview
    • Onyx Pharmaceuticals (ONXX) 4pm, ($0.48)
    • Plantronics (PLT) 4pm, $0.71
    • WebMD Health (WBMD) 4pm, ($0.15)
    • Williams (WMB) 4:01pm, $0.24
    • Williams Partners (WPZ) 4:01pm, $0.50
    • DaVita HealthCare Partners (DVA) 4:01pm, $1.80
    • Electronic Arts (EA) 4:01pm, $0.58 - Preview
    • DigitalGlobe (DGI) 4:01pm, ($0.46)
    • ACADIA Pharmaceuticals (ACAD) 4:01pm, ($0.08)
    • TripAdvisor (TRIP) 4:02pm, $0.47
    • Two Harbors Investment Corp (TWO) 4:02pm, $0.32
    • Zillow (Z) 4:02pm, ($0.05)
    • Whole Foods Market (WFM) 4:03pm, $0.73 - Preview
    • Live Nation Entertainment (LYV) 4:03pm, ($0.36)
    • Symantec Corp (SYMC) 4:05pm, $0.38
    • CA (CA) 4:05pm, $0.55
    • Seattle Genetics (SGEN) 4:05pm, ($0.19)
    • Gulfport Energy (GPOR) 4:05pm, $0.14
    • URS Corp (URS) 4:05pm, $1.12
    • Jazz Pharmaceuticals (JAZZ) 4:05pm, $1.29
    • SandRidge Energy (SD) 4:05pm, ($0.05)
    • ValueClick (VCLK) 4:05pm, $0.39
    • Myriad Genetics (MYGN) 4:05pm, $0.39
    • Babcock & Wilcox (BWC) 4:09pm, $0.48
    • McKesson Corp (MCK) 4:10pm, $2.31
    • Douglas Emmett (DEI) 4:13pm, $0.35
    • Walt Disney (DIS) 4:15pm, $0.77 - Preview
    • CH Robinson Worldwide (CHRW) 4:15pm, $0.69
    • American Water Works (AWK) 4:15pm, $0.32
    • Exelixis (EXEL) 4:16pm, ($0.28)
    • Oasis Petroleum (OAS) 4:30pm, $0.51
    • Regency Centers Corp (REG) 4:48pm, $0.62
    • Kinross Gold Corp (K CN) 5pm, $0.13
    • Axiall Corp (AXLL) 5pm, $1.17
    • Giant Interactive Group (GA) 5pm, $0.22
    • IAMGOLD Corp (IMG CN) 6:10pm, $0.14
    • Marathon Oil (MRO) Aft-mkt, $0.72

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Purchases by China From Hong Kong Double to Record in March
  • Tin Bear Market Slump Seen Curbing Record Exports: Commodities
  • China’s Gold Consumption Jumps 26% in First Quarter Before Rout
  • WTI Crude Drops First Day in Four as U.S. Stockpiles Seen Rising
  • Wheat Rises as U.S. Winter Crop Worsens and Ukraine Remains Dry
  • Copper Advances in New York After Jump in Germany Factory Orders
  • Gold Retreats in New York on Slowing Demand; Silver Declines
  • North Sea Brent Crude Exports Drop to Five Cargoes in June
  • Money Managers Boost Net Long on London Cocoa to 42,972 Lots
  • Crude Supplies Climb From 82-Year High in Survey: Energy Markets
  • Rio Said to Pursue $5 Billion Iron-Ore Project as Glut Looms
  • Cocoa Falls as Technical Signals Turn Bearish; Raw Sugar Drops
  • Tanker Rates Rallying on Record U.S. Gasoline Cargoes: Freight
  • BullionVault Demand Gauge Jumps to 16-Month High After Bear Drop

THE HEDGEYE DAILY OUTLOOK - 5

 

CURRENCIES


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GLOBAL PERFORMANCE

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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