THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – June 28, 2013


As we look at today's setup for the S&P 500, the range is 63 points or 3.36% downside to 1559 and 0.55% upside to 1622.                             

                                                                                                  

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

 

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10A


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.11 from 2.12
  • VIX closed at 16.86 1 day percent change of -2.03%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8am: Fed’s Stein speaks on monetary policy in New York
  • 9am: NAPM-Milwaukee, June, est. 45.2 (prior 40.67)
  • 9:15am: Fed’s Lacker speaks in White Sulphur Springs, W. Va.
  • 9:45am: Chicago Purchasing Mgr, June, est. 55.0 (prior 58.7)
  • 9:55am: U. Mich Consumer Sentiment, June final, est. 83.0
  • 3:30pm: Fed’s Williams speaks in Sonoma, Calif.
  • 11am: Fed to buy $1.25b-$1.75b debt in 2036-2043 sector

GOVERNMENT:

    • House considers remaining amendments to, and passage of, Offshore Energy and Jobs bill
    • 9am: ITC judge releases findings in a patent-infringement case that InterDigital filed against Nokia, Huawei Technologies, and ZTE over 3rd generation wireless technology
    • 5pm: Canon could learn whether the ITC will issue a broad order blocking what the Japanese electronics company contends is a widespread copying of its toner cartridges

WHAT TO WATCH

  • Nike 4Q profit tops ests. as U.S. sales gain
  • CBS billboard unit files for IPO as part of breakup with parent
  • Corzine faces trading ban as regulator sues in MF Global
  • BCE-Astral bid approved with conditions by Canada regulator
  • DOJ probes US Airways, American merger: Reuters
  • Icahn to wrap up $5.2b loan package for Dell: N.Y. Post
  • ABF teamster employees ratify 5-yr national labor agreement
  • PBOC’s Zhou maintains pledge to keep stability in mkts
  • BoE’s King retires in 2 days as Carney takes helm
  • German May retail sales beat ests. as eco. seen growing
  • Japan recovery strengthened in May in boost for Abe
  • U.S. Jobs, Egypt Protest, Croatia: Week Ahead June 29-July 6

EARNINGS:

    • Finish Line (FINL) 7am, $0.16
    • Blackberry (BB CN) 7am, $0.08 - Preview
    • Shaw Communications (SJR/B CN) 8:15am, C$0.45

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Trades Near 34-Month Low as Quarterly Slump May Spur Demand
  • Gold Traders Split as Rout Resumes in Bear Market: Commodities
  • JPMorgan Leads Storage Companies Cutting Back on LME Warehouses
  • Brent’s Best Forecasters Doubt Bulls After Slump: Energy Markets
  • Copper Advances After German Retail Sales; Aluminum Climbs
  • WTI Heads for Longest Gain Since April as Economies Strengthen
  • Rebar Rises for Second Day as China Plans Town Redevelopment
  • Gold’s Slump Fails to Excite Indian Shoppers After April Frenzy
  • Palm Oil Declines for Fifth Straight Quarter on Rising Supplies
  • U.S. Corn Output to Rise 25% Even as Acreage Drops: Rabobank
  • Gold’s Hold on Silver Is Strongest Since 1950: Chart of the Day
  • Anglo Said to Hire Banks for Sale of Stake in Biggest Project
  • Nicaragua Pursues a $40 Billion Canal It Can Call Its Own
  • India to Exceed China as World’s Coal Power, Buoying BHP: Energy

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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