THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – July 2, 2013


As we look at today's setup for the S&P 500, the range is 42 points or 1.42% downside to 1592 and 1.18% upside to 1634.       

                                                                                                                      

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: 2.11 from 2.13
  • VIX closed at 16.37 1 day percent change of -2.91%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:45am/8:55am: ICSC/Redbook weekly retail sales
  • 9:45am: ISM New York, June (prior 54.4)
  • 10: Factory Orders, May, est. 2% (prior 1%)
  • 10am: IBD/TIPP Economic Optimism, July, est. 50 (prior 49)
  • 11am: Fed to buy $1.25b-$1.75b debt in 2/15/36-5/15/43 range
  • 11:30am: U.S. to sell 4W bills
  • 12:30pm: Fed’s Dudley speaks on economy in Stamford, Conn.
  • 4:30pm: API crude, oil product inventories
  • 5:45pm: Fed’s Powell speaks on regulation in N.Y.

GOVERNMENT:

    • Fed governors meet on final rulemaking for Basel III, 9:30am
    • SEC holds closed mtg on enforcement matters, 11am
    • House, Senate not in session
    • Senate Appropriations Chairman Barbara Mikulski, D-Md.; Commerce Secretary Penny Pritzker hold news conference following tour of NOAA Center for Weather and Climate Prediction. Riverdale, Md., 10:30am
    • USTR holds mtg on Japan’s participation in TPP talks, 9:30am
    • Kerry participates in ASEAN Regional Forum in Brunei

WHAT TO WATCH

  • Federal Reserve set to vote today on Basel capital ratios
  • June auto sales; SAAR may be best since Dec. 2007
  • Nielsen Holdings to replace Sprint Nextel in S&P 500
  • Linn, LinnCo disclose informal SEC inquiry over Berry deal
  • Honda, GM to jointly develop fuel-cell systems, Nikkei says
  • Tyco gets notices increasing co.’s taxable income by ~$2.9b
  • AMR-US Airways deal investigated by 19 state attorneys general
  • Immigration bill details to benefit contractors, WP says
  • Swiss Re, Lloyd’s examined for possible Iran violations
  • L-T care insurance rates rise on fewer providers, WSJ says

EARNINGS:

    • Constellation Brands (STZ) 7:30am, $0.40
    • Acuity Brands (AYI) 8:25am, $0.89 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Climbs for Third Day to Extend Rebound From 34-Month Low
  • Gold Traders Seeking Floor After $66 Billion Rout: Commodities
  • WTI Crude Trades Near Two-Week High as Stockpiles Seen Falling
  • Wheat Snaps Slump as Egypt Issues First Tender Since February
  • India Urges Resisting Gold as Curbs Fail to Stem Currency Slump
  • UBS Starts Gold-Vault Service in Singapore Amid Bullion Rout
  • Goldman Outlook Right as Brent-WTI Narrows to $5: Energy Markets
  • Palm Oil Drops to Six-Week Low as Weak Rupee Curbs Indian Demand
  • Rebar Rises on Higher Ore Prices, Town Redevelopment Optimism
  • 90% of EU Oil Demand Growth Stems From Outside OECD: Bear Case
  • Crude Supplies Fall to Four-Week Low in Survey on Refinery Runs
  • Palm Oil Seen Dropping to Lowest Since May: Technical Analysis
  • Chinese Aluminum Production at All-Time High in May: BI Chart
  • Tin Reaches a Two-Week High Before Report on U.S. Factory Orders

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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