TODAY’S S&P 500 SET-UP – July 30, 2013
As we look at today's setup for the S&P 500, the range is 20 points or 0.38% downside to 1679 and 0.81% upside to 1699.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 2.28 from 2.29
- VIX closed at 13.39 1 day percent change of 5.27%
MACRO DATA POINTS (Bloomberg Estimates):
- 7:45am: ICSC retail sales
- 8:55am: Redbook weekly retail sales
- 9am: S&P/Case Shiller Home Prices M/m, May, est. 1.45%
- 9am: S&P/Case Shiller Index, May (prior 152.37)
- 10am: Conference Board Consumer Conf Index, July, est. 81
- 11am: Fed to purchase $1.25b-$1.75b in 2036-2043 sector
- 11:30am: U.S. to sell 4W bills
- 4:30pm: API crude, oil product inventories
GOVERNMENT:
- President Obama travels to Tenn. to speak on U.S. economy
- FOMC begins 2-day closed mtg on interest rates, 9am
- CFTC rules for procedures to establish appropriate minimum block sizes for large notional off-facility swaps and block trades become effective
- Senate Banking Cmte hears from SEC Chairman Mary Jo White, CFTC Chairman Gary Gensler on limiting systemic risk in financial markets, 10am
- Gina McCarthy gives first speech since becoming EPA chief
- Senate confirms James Comey as new FBI director
WHAT TO WATCH
- JPMorgan accused of gaming energy bids, FERC settlement looms
- Barclays to raise GBP5.8b in rights offering
- Pfizer 2Q adj. EPS beat as co. prepares to split units
- Uralkali sees potash price slump after exiting BPC venture
- UBS to buy back Swiss central bank’s fund to boost equity
- Time Warner Cable-CBS talks pass deadline without blackout
- General Growth to sell its stakes in Aliansce for $690m
- Centrica buys Hess’s Energy Marketing business
- Zynga said to lose three top executives after CEO change
- Deutsche Bank 2Q net misses ests. on legal costs
- Alcatel-Lucent beats ests. as Qualcomm to buy stake
- Lockheed said to reach agreement w/Pentagon on 71 more F-35s
- Moore said to hear Canada wireless concerns about Verizon
- Tourre rests defense in SEC case w/out calling any witnesses
EARNINGS:
- Aetna (AET) 6am, $1.40
- Nielsen Holdings (NLSN) 6am, $0.49
- Westlake Chemical (WLK) 6am, $1.98
- Mednax (MD) 6am, $1.36
- Generac Holdings (GNRC) 6am, $0.76
- MDC Holdings (MDC) 6am, $0.58
- Lexicon Pharmaceuticals (LXRX) 6am, $(0.06)
- Harris (HRS) 6:30am, $1.15
- Pitney Bowes (PBI) 6:30am, $0.44
- RR Donnelley & Sons (RRD) 6:30am, $0.41
- Waddell & Reed Financial (WDR) 6:59am, $0.64
- Merck & Co (MRK) 7am, $0.82 - Preview
- Discovery Communications (DISCA) 7am, $0.91
- National Oilwell Varco (NOV) 7am, $1.33
- Thomson Reuters (TRI CN) 7am, $0.45
- Corning (GLW) 7am, $0.31
- Coach (COH) 7am, $0.89 - Preview
- Fidelity National Information Services (FIS) 7am, $0.70
- Rockwell Automation (ROK) 7am, $1.39
- Entergy (ETR) 7am, $1.15
- Cobalt International Energy (CIE) 7am, $(0.15)
- Alliance Data Systems (ADS) 7am, $2.30
- Western Union (WU) 7am, $0.34
- TRW Automotive Holdings (TRW) 7am, $1.69
- Xylem (XYL) 7am, $0.44
- Goodyear Tire & Rubber (GT) 7am, $0.48
- Aegerion Pharmaceuticals (AEGR) 7am, $(0.62)
- Office Depot (ODP) 7am, $(0.10)
- Boyd Gaming (BYD) 7am, $0.00
- Senior Housing Properties Trust (SNH) 7:01am, $0.44
- Affiliated Managers Group (AMG) 7:10am, $2.10
- MeadWestvaco (MWV) 7:15am, $0.28
- Occidental Petroleum (OXY) 7:30am, $1.60
- NextEra Energy (NEE) 7:30am, $1.28
- Cummins (CMI) 7:30am, $1.98
- Waste Management (WM) 7:30am, $0.55
- Public Service Enterprise Group (PEG) 7:30am, $0.45
- Vishay Intertechnology (VSH) 7:30am, $0.22
- JetBlue Airways (JBLU) 7:30am, $0.14
- Arch Coal (ACI) 7:30am, $(0.33) - Preview
- TransAlta (TA CN) 7:44am, $0.18
- U.S. Steel (X) 7:45am, $(0.78)
- HCP (HCP) 8am, $0.74
- George Weston (WN CN) 8am, $1.10
- UDR (UDR) 8am, $0.34
- 3D Systems (DDD) 8am, $0.24
- Amgen (AMGN) 4pm, $1.74 - Preview
- Fiserv (FISV) 4:01pm, $1.44
- Canadian Oil Sands (COS CN) 4:01pm, $0.52
- Kimco Realty (KIM) 4:01pm, $0.33
- Chicago Bridge & Iron (CBI) 4:01pm, $1.01
- Hanesbrands (HBI) 4:01pm, $0.94
- IAC/InterActiveCorp (IACI) 4:01pm, $0.94
- American Capital (ACAS) 4:01pm, $0.24
- Questcor Pharmaceuticals (QCOR) 4:01pm, $1.04
- NCR (NCR) 4:02pm, $0.66
- Covance (CVD) 4:03pm, $0.77
- ONEOK Partners (OKS) 4:05pm, $0.54
- ONEOK (OKE) 4:05pm, $0.28
- Trimble Navigation (TRMB) 4:05pm, $0.37
- Axis Capital Holdings (AXS) 4:05pm, $0.48
- Riverbed Technology (RVBD) 4:05pm, $0.22
- Take-Two Interactive Software (TTWO) 4:05pm, $(0.56)
- InvenSense (INVN) 4:05pm, $0.14
- Symantec (SYMC) 4:07pm, $0.36
- Aflac (AFL) 4:09pm, $1.51
- Verisk Analytics (VRSK) 4:10pm, $0.53
- Genworth Financial (GNW) 4:10pm, $0.29
- Arthur J Gallagher (AJG) 4:10pm, $0.70
- Access Midstream Partners (ACMP) 4:15pm, $0.31
- Fortinet (FTNT) 4:15pm, $0.10
- Oil States International (OIS) 4:16pm, $1.51
- Weatherford International (WFT) 4:38pm, $0.15
- Duke Realty (DRE) 4:45pm, $0.26
- Equity Residential (EQR) 4:58pm, $0.71
- Lundin Mining (LUN CN) 5pm, $0.05
- Boston Properties (BXP) 5:09pm, $1.27
- SM Energy (SM) Aft-mkt, $0.77
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- WTI Falls to Three-Week Low as U.S. Economic Growth Seen Slowing
- Gold Loss to Platinum Widening for Best Forecasters: Commodities
- JPMorgan Accused of Gaming Energy Bids as FERC Settlement Looms
- Wheat Rises on Indications of Revived Demand From Japan to Egypt
- Copper Falls as Growth Misses Targets in Most Chinese Provinces
- Einhorn’s Reinsurer Says It Cut Gold Holding Amid Bear Market
- Uralkali Breaks Potash Cartel to Grab Market Share on Price Drop
- Food-Grain Harvest in India Seen at Record on Monsoon Rainfall
- Raw Sugar Climbs to Four-Week High on Demand, Frost; Cocoa Slips
- Crude Inventories Decline a Fifth Week in Survey: Energy Markets
- Rebar Trades Near Three-Week Low as Construction Slows in Summer
- China Steel Stockpiles Seen Nearing 2012 Levels as Output Slows
- China Iron Ore Production Jumps 10.7% in June: BI Chart
- Regulators Face Scrutiny on Banks’ Commodities at Senate Hearing
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
