• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

  • It's Here

    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

TODAY’S S&P 500 SET-UP – June 12, 2013


As we look at today's setup for the S&P 500, the range is 51 points or 1.18% downside to 1607 and 1.96% upside to 1658.  

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1A

THE HEDGEYE DAILY OUTLOOK - 2

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 1.87 from 1.86
  • VIX closed at 17.07 1 day percent change of 10.56%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, June 7 (prior -11.5%)
  • 10:30am: DOE Energy Inventories
  • 11am: Fed to purchase $750k-$1b notes in 2023-2031 sector
  • 1pm: U.S. to sell $21b 10Y notes in reopening
  • 2pm: Monthly Budget Statement, May, est. -$136.5b (prior -$124.6b, May 2012)

GOVERNMENT:

    • 10:30am: Senate Budget Cmte hears from Defense Sec. Chuck Hagel, Dempsey on dept’s budget request, effects of spending cuts, sexual assaults in the military
    • 12pm: Agriculture Dept releases supply, demand forecasts for 2013-2014 domestic, global grain and oilseeds seasons
    • 2pm: NSA Director Keith Alexander testifies before Senate Appropriations Cmte about U.S. cyber preparedness
    • 2:30pm: Senate Armed Svcs Cmte begins several days of closed meetings to write measure authorizing defense programs for FY14, beginning Oct. 1. Pentagon seeking $526.6b, not including $79.4b for fighting wars

WHAT TO WATCH

  • Dish faces June 18 deadline after Sprint deal talks falter
  • Vodafone approaches Kabel Deutschland to discuss takeoverbid
  • Liberty starts $3.5b buyback after Virgin Media purchase
  • ANA scraps 787 Dreamliner flight after engine fails to start
  • Airbus sets A350 flight date as Boeing rivalry intensifies
  • Glencore Xstrata appoints former Morgan Stanley CEO to board
  • Glenview asks Health Management to remove or boost poison pill
  • Traders said to manipulate currency rates to profit
  • Greece first developed market cut to emerging; U.A.E. raised
  • Freeport reschedules concentrate shipments after mine shutdown
  • Time Warner Cable said to offer incentives thwarting online TV
  • Toyota to meet U.S. Prius goal as economy gains, Lentz says
  • Pandora buys South Dakota station to get radio-like rates
  • U.K. unemployment falls as economic recovery gains momentum
  • Massive line of storms across U.S. may hit Iowa to Maryland
  • Flights to France cut, last day of air traffic control strike

EARNINGS

    • Dollarama (DOL CN) 7:30am, C$0.67
    • Evertz Technologies (ET CN) 4:01pm, C$0.17
    • Five Below (FIVE) 4:01pm, $0.04
    • H&R Block (HRB) 4:02pm, $2.61
    • PVH Corp  (PVH) 4:02pm, $1.37
    • Men’s Wearhouse (MW) 5:30pm, $0.55

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Premium in Vietnam Seen Dropping From Record on Bank Sales
  • Smithfield Embodies China’s Record Hunger for Farms: Commodities
  • WTI Crude Halts Two-Day Decline; IEA Trims OPEC Demand Forecast
  • Cotton Planting in India Seen Increasing on Early Monsoon Rains
  • Copper Gains Most in a Week on Supply Concern as Nickel Declines
  • Wheat Declines as Australia Raises Production Outlook on Weather
  • Thailand Sets ‘Ambitious’ 13mt Sugar Production Target: Official
  • Gold Swings Near 2-Week Low as Investors Weigh Stimulus, Dollar
  • IEA Cuts Demand Forecast for OPEC Crude as China Growth Cools
  • Freeport Reschedules Concentrate Shipments After Mine Shutdown
  • Copper MACD Measure Signals Drop to 2010 Low: Technical Analysis
  • Tougher Regulations Seen From Obama Change in Carbon Calculation
  • South Korean Crude Oil-Shipping Rebate Seen Extended by IEA
  • Australian Wheat Crop Increasing Boosts Pressure on Bear Market

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