THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – June 14, 2013


As we look at today's setup for the S&P 500, the range is 48 points or 1.92% downside to 1605 and 1.02% upside to 1653.          

                                                                                                                     

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1A

 

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10A


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 1.85 from 1.87
  • VIX  closed at 16.41 1 day percent change of -11.73%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Producer Price Index, May, est. 0.1% (prior -0.7%)
  • 8:30am: Current Acct Bal., 1Q, est. -$110.8b (pr  -$110.4b)
  • 9:15am: Industrial Production, May, est. 0.2% (prior -0.5%)
  • 9:15am: Capacity Utilization, May, est. 77.8% (prior 77.8%)
  • 9:15am: Manuf (SIC) Production, May, est. 0.1% (prior -0.4%)
  • 9:55am: UMich. cons. sentiment index, June prelim, est. 84.5
  • 11am: Fed to buy $1.25b-$1.75b notes in 2036-2043 sector
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • Iranian presidential election will be the first since 2009, which sparked street protests amid allegations that MahmoudAhmadinejad’s re-election was the result of ballot fraud
    • 8:30am: Sen. Max Baucus, Rep. Dave Camp discuss tax overhaul efforts at CSM breakfast
    • IMF Managing Director Christine Lagarde holds press conference on U.S. economy

WHAT TO WATCH

  • Exchanges preparing pilot programs for changing tick sizes
  • FX rates said to face global regulation after Libor review
  • U.S. agencies said to swap intelligence w/thousands of firms
  • Johnson & Johnson sells last of 25.4m shares of Elan
  • SoftBank, Sprint dismiss Dish claim to FCC of broken pledge
  • Visa sues Wal-Mart to stop co. from filing swipe fee claims
  • Marchionne said close on Fiat-Chrysler refinancing agreement
  • Airbus A350 becomes airborne as test pilots start first flight
  • Boeing seen reaping $6b/yr on 787 output rising again
  • Senate committee approves $625b defense spending measure
  • Wal-Mart says approved Ranbaxy products “safe and effective”
  • Gene patent ruling triggers race to mkt cancer risk scans
  • Bernanke, G-8 Summit, Paris Air Show, NBA: Wk Ahead June 15-22

EARNINGS

    • Smithfield Foods (SFD) 6am, $0.43
    • NGL Energy Partners (NGL) Bef-Mkt, $1.03

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Corn Set for Weekly Drop as Demand Slows and U.S. Crop Rebounds
  • Gold Bears Return as ETP Rout Extends to 17th Week: Commodities
  • Copper Climbs on Indications of Rebounding Economy in the U.S.
  • WTI Rises to 10-Week High Amid U.S. Growth, Middle East Tensions
  • Aluminum Fees Immune to Abenomics as Japan Buyers Don’t Budge
  • Gold Declines as Investors Cut ETP Holdings on Stimulus Outlook
  • Thailand Sets Record Sugar Production Target of 13 Million Tons
  • Rebar Trades Near Lowest Level in Nine Months on China Concerns
  • Lower Crop Prices Seen Erasing Savings in U.S. House Farm Plan
  • Nickel Glut Fuels Price Slump for LME Laggard: Chart of the Day
  • U.K. Power Price to Double German on Wind, Solar: Energy Markets
  • U.S.-Europe Diesel Flow Seen Rising Amid Output at 23-Year High
  • Oil Hunted in Mozambique After World’s Largest Gas Discoveries
  • Crop Price Decline Top Commodity Opportunity at Goldman Sachs

THE HEDGEYE DAILY OUTLOOK - 5

 

CURRENCIES


THE HEDGEYE DAILY OUTLOOK - 6

 

GLOBAL PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 3

 

THE HEDGEYE DAILY OUTLOOK - 4A

 

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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