THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – May 17, 2013 

 

As we look at today's setup for the S&P 500, the range is 26 points or 0.88% downside to 1636 and 0.70% upside to 1662.

                                                                                               

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: 1.65 from 1.65
  • VIX  closed at 13.07 1 day percent change of 2.03%

MACRO DATA POINTS (Bloomberg Estimates):

  • 9:55am: U. of Mich. Conf, May prelim., est. 78.0 (prior 76.4)
  • 10am: Annual revisions to factory orders data
  • 10am: Leading Indicators, April, est. 0.2% (prior -0.1%)
  • 11am: Fed to purchase $4.75b-$5.75b notes in 2018-2019 sector
  • 1pm: Baker Hughes rig count
  • 1:45pm: Fed’s Kocherlakota, Riksbank’s Ingves speak in Chicago

GOVERNMENT:

    • 9am: House Ways and Means Cmte holds hearing on IRS screening of nonprofits applying for tax-exempt status
    • 9am: Energy Dept holds mtg of Natl Coal Council
    • 9:30am: Sec. of State John Kerry, Attorney Gen. Eric Holder, HHS Sec. Kathleen Sebelius, Transportation Sec. Ray LaHood attend mtg of President’s Interagency Task Force to Monitor and Combat Trafficking in Persons
    • 1:20pm: President Obama speaks at “Middle Class Jobs & Opportunity Tour” event

WHAT TO WATCH

  • Wall Street wins rollback in Dodd-Frank swap-trading rules
  • Dell profit misses ests. on PC slump amid buyout flight
  • Northrop to buy back $4b more shrs, to retire 25% of shrs
  • Kansas City Southern to replace Dean Foods in S&P 500
  • Caterpillar obligations cut by $135m in ERA settlement
  • Europe car sales climb after 19-month drop, Germany rebounds
  • Computer Sciences Corp. reaches $97.5m investor accord
  • Knight discussing SEC settlement on trading error: Reuters
  • Tableau raises $254.2m in biggest technology IPO of 2013
  • Tesla prices 2.7m shrs at $92.24 each: WSJ
  • McDonald’s seen overhauling U.S. menu from 145 choices
  • Foxconn faces challenge reducing working hours
  • Maersk says container rates recovered, cuts demand forecast
  • China encourages foreign auto investment in policy reversal
  • Bernanke, BOJ, Dimon, Goldman, IRS: Wk Ahead May 18-25

EARNINGS: (all times ET, times are approximate)

    • Stage Stores (SSI) 6am, $0.09
    • Donaldson Co. (DCI) 7am, $0.49

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Heads for Worst Slump Since March 2009 as Holdings Contract
  • Gold Bears Revived as Rout Resumes After Coin Rush: Commodities
  • Soybeans Set for Biggest Weekly Gain Since January as China Buys
  • Copper Advances as Shanghai Inventories Reach a Seven-Month Low
  • Lead Shines on Asymmetric Chinese Base Metal Capacity Cuts
  • Metal Prices May Catch Up With Equities in 2016, Forecasts Show
  • Natural Gas to Remain Below $4, Energy Executives Say in Survey
  • Rebar Pares Weekly Decline as China’s Stock Market Rallies
  • Robusta Coffee Swings on Inventory, Vietnam Exports; Sugar Rises
  • Crude May Fall as Weaker Growth Reduces Demand, Survey Shows
  • Trafigura Sells Forties at Higher Price; Angola Exports to Rise
  • Gold in India to Tumble to Lowest Since 2011: Technical Analysis
  • SHFE Copper Stockpiles Fall to Seven-Month Low as Aluminum Drops
  • Iran Pays High Premium for Staples From India on Sanctions

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

 

 

 

 

 

 

 

 

 

 

 


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