THE HEDGEYE DAILY OUTLOOK

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


As we look at today's setup for the S&P 500, the range is 47 points or 2.45% downside to 1634 and 0.36% upside to 1681.                         

                                                                                                      

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: 2.22 from 2.24
  • VIX  closed at 14.01 1 day percent change of -1.41%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: PPI, M/m, June, est. 0.5% (prior 0.5%)
  • 9:55am: U. Mich Confidence, July, P, est. 84.7 (prior 84.1)
  • 11am: Fed to buy $1.25b-$1.75b notes in 2036-2043 sector
  • 1pm: Baker Hughes rig count
  • Fed’s Plosser, Bullard speak in Jackson Hole, Wyo.
  • 5:15pm: Fed’s Williams presents paper in Vancouver 

GOVERNMENT:                                  

    • President Obama’s schedule TBA; Senate in session; House not in session
    • 12pm: CFTC holds meeting to consider “Final Interpretive Guidance and Policy Statement Regarding Compliance with Certain Swap Regulations”

WHAT TO WATCH         

  • Billionaire Icahn says he’ll sweeten Dell offer
  • China FinMin Lou Jiwei signals economic growth may miss target
  • China money-supply growth trails ests
  • Schneider Electric offers $5b for Invensys takeover
  • H&R Block to sell bank assets in plan to exit Fed oversight
  • Fannie Mae investors sue U.S. over 2012 terms of takeover
  • Bernanke, G-20, Dell, China GDP, Google: Wk Ahead July 13-20

EARNINGS:

    • JPMorgan Chase (JPM) 7am, $1.45 - Preview
    • Washington Federal (WAFD) 6am, $0.33
    • Webster Financial (WBS) 8am, $0.47
    • Wells Fargo (WFC) 8am, $0.93 - Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Crude Heads for Third Weekly Advance; Seen Rising in Survey
  • Gold Traders Most Bullish in Five Weeks After Fed: Commodities
  • Cocoa Processing in Asia Seen Falling as Powder Reserves Persist
  • Coffee Harvest in Vietnam Heading for Second Highest on Rainfall
  • Copper May Decline 13% on Death Cross Signal: Technical Analysis
  • Gold’s Decline Pares Best Week Since 2011 as Dollar Strengthens
  • Corn Falls on Signs of Ample Supplies Amid Declining Demand
  • Palm Oil Tumbles as USDA Raises Forecast for Soybean Supplies
  • Ships Told to ‘Shift Out’ at Kaohsiung on Typhoon: Inchcape
  • WTI Crude May Gain Next Week After Supplies Tumble, Survey Shows
  • Tokyo Commodity Exchange’s Ezaki Says Talks With CME Continue
  • Taqa to Halt U.K.’s Eider, North Cormorant Oil Fields End-August
  • Nickel Premiums Hit Lows Amid High Stocks, Oversupply: BI Chart
  • Coffee Climbs in London as Rain Seen Delaying Crop in Indonesia

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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