• It's Here!

    Etf Pro

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

  • It's Coming...

    MARKET EDGES

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

TODAY’S S&P 500 SET-UP – June 18, 2013


As we look at today's setup for the S&P 500, the range is 47 points or 2.08% downside to 1605 and 0.79% upside to 1652.           

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: 1.92 from 1.92
  • VIX closed at 16.8 1 day percent change of -2.04%

MACRO DATA POINTS (Bloomberg Estimates):

  • FOMC starts two-day meeting
  • 7:45am: ICSC weekly sales
  • 8:30am: Consumer Price Index, May, est. 0.2% (prior -0.4%)
  • 8:30am: CPI Core Index, May, est. 233.255 (prior 232.879)
  • 8:30am: Housing Starts, May, est. 950k (prior 853k)
  • 8:30am: Building Permits, May, est. 975k (prior 1.005m)
  • 8:55am: Johnson/Redbook weekly sales
  • 11am: Fed to purchase $1.25b-$1.75b notes in 2036-2043 sector
  • 11:30am: U.S. to sell 4W bills
  • 4:30pm: API weekly inventory data

GOVERNMENT:

    • President Barack Obama leaves G8 summit in Northern Ireland to travel to Berlin on official visit
    • Swiss lawmakers in lower house of parliament to discuss “black box” agreement to allow banks to cooperate with U.S., end a tax evasion dispute
    • 8:45am: Senate Energy and Natural Resources ranking member Sen. Lisa Murkowski, R-Alaska, delivers opening keynote address at U.S. EIA Energy Conf.
    • 10am: Senate Finance Cmte holds hearing on health care costs, issues of transparency
    • 11am: Rep. Steve Daines, R-Mont., leads group of lawmakers in news conf. on opposition to the Marketplace Fairness Act
    • 1pm: Vice President Joe Biden speaks on administration plan for improving gun safety

WHAT TO WATCH

  • Obama says Bernanke staying at Fed “longer than he wanted”
  • Liberty Global bids for Kabel Deutschland to rival Vodafone
  • Johnson Controls said to mull auto-electronics unit breakup
  • Third Point boosts stake in Sony as Daniel Loeb seeks talks
  • ECB has “open mind” on non-standard monetary policy: Draghi
  • Sprint sues Dish in Delaware seeking to block Clearwire buyout
  • Verizon said to have interest in buying Canada’s Wind Mobile
  • Boeing unveils 787-10 Dreamliner, has 102 commitments
  • Yahoo received up to 13k data requests from U.S. authorities
  • Mengniu to buy 75.3% stake in Yashili from Zhang, Carlyle
  • EasyJet orders Airbus jets, risking clash with founder
  • GM Holden says labor costs need cuts to save Australian plants
  • Housing starts probably rose in May as expansion gets boost
  • EU car sales reach 20-yr low as recession hurts GM demand
  • U.S. video-game retail sales fell 25% in May, NPD says
  • Microsoft’s Xbox tops U.S. retail game console sales in May
  • Ex-UBS trader Hayes said to face U.K. Libor charge this week
  • Tissue Regenix licenses dCell technology to U.S. tissue bank

EARNINGS:

    • John Wiley & Sons (JW/A) 7am, $0.84
    • FactSet Research (FDS) 7am, $1.26
    • Adobe Systems (ADBE) 4:02pm, $0.34 - Preview
    • La-Z-Boy (LZB) 4:05pm, $0.28

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Palm Exports From Indonesia Rising for First Time Since January
  • Rubber Poised for Record Glut as Shippers End Curbs: Commodities
  • WTI Trades Near Four-Month High as U.S. Stockpiles Seen Falling
  • Wheat Prices Seen Extending Decline as Global Production Surges
  • Copper Falls a Second Day as Investors Await Fed Stimulus Signs
  • Gold Retreats a Second Day in London Before Fed Policy Meeting
  • Coffee Resumes Decline on Vietnam, Bearish Bets; Sugar Retreats
  • Americans Exporting Oil First Time Since ’70s Seen on Production
  • Keystone Seen Failing to Sop Up Canada Oil Glut: Energy Markets
  • India Plans to Sell 17.5 Million Tons of Grain From Stockpiles
  • Keystone XL Pipeline Shuns High-Tech Oil Spill Detectors: Energy
  • Marubeni, Partners to Set Up Floating Wind Turbine Off Fukushima
  • Mongolia Taps North Korea Oil Potential to Ease Russian Grip
  • Wheat Advances on Indications Rain Is Delaying Harvest in U.S.

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