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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


THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2

EQUITY SENTIMENT:

THE HEDGEYE DAILY OUTLOOK - 10

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

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