THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – May 31, 2013


As we look at today's setup for the S&P 500, the range is 33 points or 0.81% downside to 1641 and 1.18% upside to 1674.                  

                                                                                                             

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

 

THE HEDGEYE DAILY OUTLOOK - 2A

 

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 1.79 from 1.82
  • VIX closed at 14.53 1 day percent change of -2.02%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Personal Income, April, est. 0.1% (prior 0.2%)
  • 8:30am: Personal Spending, April, est. 0.0% (prior 0.2%)
  • 8:45am: Fed’s Pianalto speaks in Washington
  • 9am: NAPM-Milwaukee, May, est. 49 (prior 48.43)
  • 9:45am: Chicago Purchasing Mgr, May, est. 50 (prior 49)
  • 9:55am: U. of Mich Conf, May final, est. 83.7 (prior 83.7)
  • 10am: Commerce Dept. issues benchmark revisions on retail sales data, wholesale inventories and sales data
  • 11am: Fed’s Liang speaks in Washington
  • 11am: Fed to buy $4.25b-$5.25b notes in 2017-2018 sector
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • House, Senate not in session
    • 1pm: VP Biden addresses media after mtg w/ Brazilian President Dilma Rousseff, Vice President Michel Temer in Brazilia

WHAT TO WATCH

  • U.S. consumer spending was probably little changed in April
  • P&G said planning to promote 4 as contenders to succeed CEO
  • Apple raises prices for some products in Japan after yen weakens
  • Apple ruling to revolve around who can use standard technology
  • Sony said to engage Morgan Stanley, Citigroup on Loeb plan
  • Treasury 7-Yr auction demand rises with yield at 13-mo. high
  • Boeing sells new 787 as Singapore splits $17b order
  • Dell investors sue over founder’s buyout bid
  • Japan’s April industrial production rose 1.7% m/m, exceeding the highest est. in a Bloomberg News survey
  • Euro-area April jobless rate rises to record 12.2%, est. 12.2%
  • Euro-area May consumer prices rise 1.4% in yr, est. 1.4%
  • Italy jobless rate reaches 12%, 36-yr-high amid recession
  • German retail sales unexpectedly fell for a 3rd mo. in April
  • EMA’s CHMP monthly announcements may include Sanofi, Roche

EARNINGS:

    • No earnings expected from S&P 500 cos.: Bloomberg data

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • China Gold Demand to Slow From April Surge, Association Says
  • Gold Traders Divided as Physical Buying Surge Slows: Commodities
  • Gold Falls on Speculation Demand May Slow After Price Rally
  • WTI Heads for Weekly Drop as Stockpiles Gain Before OPEC Meets
  • Copper Trims First Monthly Gain in Four Before Chinese Index
  • Soybeans Head for Best Month Since July as U.S. Supply Dwindles
  • White Sugar Gains on Africa, Middle East Demand; Cocoa Retreats
  • Battle Over U.S. Natural Gas Exports Increases as Permits Flow
  • ETF Investors Dumping Gold Add to Platinum Bet: Chart of the Day
  • Tea Output in India Seen at Record as Normal Weather Aids Yields
  • WTI Crude May Fall Next Week on Ample Stockpiles, Survey Shows
  • SHFE Copper Stockpiles Rise for First Time in Nine Weeks
  • Japan Pays Record Price for LNG Imports in April as Yen Weakens
  • Gold Premiums in Singapore at Record Seen Declining Next Month

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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