TODAY’S S&P 500 SET-UP – August 1, 2013
As we look at today's setup for the S&P 500, the range is 17 points or 0.22% downside to 1682 and 0.79% upside to 1699.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 2.30 from 2.27
- VIX closed at 13.45 1 day percent change of 0.45%
MACRO DATA POINTS (Bloomberg Estimates):
- 7am: Bank of England rate decision; est. 0.5% (prior 0.5%)
- 7:30am: Challenger Job Cuts Y/y, July (prior 4.8%)
- 7:30am: RBC Consumer Outlook Index, Aug. (prior 50.7)
- 7:45am: ECB announces interest rates; est. 0.5% (prior 0.5%)
- 8:30am: ECB’s Draghi holds news conference
- 8:30am: Init Jobless Claims, July 27, est. 345k (prior 343k)
- 8:58am: Markit US PMI Final, July, est. 53.2
- 9:45am: Bloomberg Consumer Comfort, July 28 (prior -27.3)
- 10am: Construction Spend M/m, June, est. 0.4% (prior 0.5%)
- 10am: ISM Manufacturing, July, est. 52 (prior 50.9)
- 10am: Freddie Mac mortgage rates
- 10:30am: EIA natural-gas storage change
- 5pm: Total Vehicle Sales, July, est. 15.8m (prior 15.89m)
GOVERNMENT:
- House Energy and Commerce Cmte hears from Medicare and Medicaid Services Administrator Marilyn Tavenner on Affordable Care Act implementation
- 8:30am: Energy Dept’s Bioenergy Technologies Office, Advanced Biofuels USA hold conf on bioindustry role in American energy
- 9am: SEC Commissioner Troy Paredes discusses finl regulation at Chamber of Commerce’s Center for Capital Markets Competitiveness event
- 9:30am: Senate Energy and Natural Resources Cmte hearing on the political status of Puerto Rico
- 10am: House Armed Services Cmte hearing on “Initial Conclusions Formed by the Defense Strategic Choices and Management Review”
- 1:30pm: API briefing on oil, natgas industry jobs, economic analysis by PricewaterhouseCoopers
WHAT TO WATCH
- U.S. trade agency issues ruling on Samsung import limit
- Tenet, Health Management accused of paying kickbacks to clinic
- Macy’s makes final bid to block Martha Stewart goods at rival
- Walgreen investors sue CEO over $80m DEA painkiller fine
- Lloyds prepares to resume dividends as Osborne weighs sale
- Apple’s new iPad mini likely to have Samsung display, WSJ says
- Citigroup ordered to pay $10.8m for soured RBS investment
- Celltrion says reports of stake sale to AstraZeneca inaccurate
- Tourre jurors end first day of deliberations without verdict
- Dish customers blocked as Raycom Media accord expires
- Congress votes to reverse rise in student-loan interest rates
- China pledges to keep growth within “reasonable zone”
- U.K. factory growth strengthens as recovery builds momentum
- Australia to raise tobacco excise to narrow budget shortfall
- July Auto Sales: July SAAR May Be 15.8m
EARNINGS
AM:
- Alliant Techsystems (ATK) 7:01am, $1.92
- AltaGas (ALA CN) 7:45am, C$0.21
- Ameren (AEE) 7:48am, $0.46
- Ansys (ANSS) 7:09am, $0.71
- Apache (APA) 8am, $2.00 - Preview
- Arena Pharmaceuticals (ARNA) 7am, $0.18
- Automatic Data Processing (ADP) 7:30am, $0.57
- Avon Products (AVP) 7:01am, $0.26
- Barrick Gold (ABX CN) 6:31am, $0.56 - Preview
- Becton Dickinson (BDX) 6am, $1.48
- BGC Partners (BGCP) 8am, $0.13
- Bombardier (BBD/B CN) 6am, $0.09
- Cameco (CCO CN) 8:23am, C$0.18
- Cardinal Health (CAH) 7am, $0.77
- Catamaran (CCT CN) 6am, $0.44
- CenterPoint Energy (CNP) 8:15am, $0.26
- Chesapeake Energy (CHK) 7:01am, $0.41 - Preview
- Cigna (CI) 6am, $1.60
- Clorox (CLX) 8:30am, $1.34 - Preview
- CME Group (CME) 7am, $0.90
- Colonial Properties Trust (CLP) 7am, $0.33
- ConocoPhillips (COP) 7am, $1.29 - Preview
- Covidien (COV) 6am, $0.89
- CVR Energy (CVI) 8am, $1.62
- CVR Refining (CVRR) 8am, $1.66
- Dentsply Intl (XRAY) 7am, $0.65
- DirecTV (DTV) 7:30am, $1.34 - Preview
- Dynegy (DYN) 7:30am, $(0.29)
- Enbridge (ENB CN) 7am, C$0.39 - Preview
- Enterprise Products (EPD) 6am, $0.69
- Exxon Mobil (XOM) 8am, $1.89 - Preview
- Fluor (FLR) 9am, $1.01
- Fortis (FTS CN) 7am, C$0.32
- Fortress Investment (FIG) 7am, $0.20
- Genesee & Wyoming (GWR) 6am, $1.11
- Gildan Activewear (GIL CN) 6:31am, $0.94
- Halcon Resources (HK) 7:30am, $0.06
- HCA Holdings (HCA) 7:03am, $0.91
- IGM Financial (IGM CN) 10:30am, C$0.76
- Imperial Oil (IMO CN) 7:55am, C$0.98
- Incyte (INCY) 7am, $0.01
- Iron Mountain (IRM) 6am, $0.31
- ITT (ITT) 7am, $0.45
- Kellogg (K) 8am, $0.98 - Preview
- LKQ (LKQ) 7:30am, $0.25
- Magellan Midstream (MMP) 8am, $0.54
- Marathon Petroleum (MPC) 7:03am, $1.90
- MSCI (MSCI) 7:30am, $0.53
- Mylan (MYL) 7am, $0.67
- New York Times (NYT) 8:30am, $0.13
- NII Holdings (NIHD) 6:30am, $(1.16)
- Nu Skin Enterprises (NUS) 7:30am, $1.20
- Ocwen Financial (OCN) 7:30am, $1.02
- PBF Energy (PBF) 8am, $0.79
- PPL (PPL) 7am, $0.47
- Procter & Gamble (PG) 6:58am, $0.77 - Preview
- Quanta Services (PWR) 6:07am, $0.37
- Quintiles Transnational (Q) Bef-mkt, $0.44 - Preview
- Sally Beauty Holdings (SBH) 7:30am, $0.43
- Scana (SCG) 7:30am, $0.54
- Targa Resources (NGLS) 7am, $0.14
- Teco Energy (TE) 7am, $0.27
- Teradata (TDC) 6:45am, $0.71
- Time Warner Cable (TWC) 6am, $1.65 - Preview
- TMX Group (X CN) 6am, C$0.83
- Vulcan Materials (VMC) 8am, $0.16
- Western Refining (WNR) 6am, $1.20
- WPX Energy (WPX) 7am, $(0.19)
- Xcel Energy (XEL) 7am, $0.39
PM :
- Activision Blizzard (ATVI) 4:05pm, $0.08
- American International Group (AIG) 4pm, $0.86
- Apartment Investment & Mgmt (AIV) 4:05pm, $0.48
- Bill Barrett (BBG) 4:15pm, $(0.01)
- Consolidated Edison (ED) 6:43pm, $0.57
- DCT Industrial Trust (DCT) 4:10pm, $0.11
- Edison International (EIX) 4pm, $0.66
- Extra Space Storage (EXR) 4:05pm, $0.49
- Fairfax Financial Holdings (FFH CN) 5:01pm, $(12.40)
- Federal Realty Investment Trust (FRT) 4:30pm, $1.12
- FleetCor Technologies (FLT) 4:01pm, $0.95
- Home Properties (HME) 4:30pm, $1.09
- Kodiak Oil & Gas (KOG) 4:01pm, $0.13
- Kraft Foods (KRFT) 4pm, $0.67 - Preview
- Leap Wireless (LEAP) 4:05pm, $(1.02)
- LeapFrog Enterprises (LF) 4:01pm, $(0.08)
- LinkedIn (LNKD) 4:05pm, $0.31 - Preview
- MercadoLibre (MELI) 4:01pm, $0.63
- Mohawk Industries (MHK) 4:01pm, $1.66
- MRC Global (MRC) 4:15pm, $0.38
- ON Semiconductor (ONNN) 4:03pm, $0.13
- OpenTable (OPEN) 4:31pm, $0.47
- Osisko Mining (OSK CN) 4:05pm, C$0.05
- PerkinElmer (PKI) 4:05pm, $0.48
- Piedmont Office Realty Trust (PDM) 5:02pm, $0.34
- Public Storage (PSA) 5:14pm, $1.77
- ResMed (RMD) 4:05pm, $0.62
- SBA Communications (SBAC) 4:01pm, $(0.10)
- Southwestern Energy (SWN) 5:15pm, $0.52 - Preview
- Synaptics (SYNA) 4:15pm, $1.30
- Tesoro (TSO) 4:31pm, $1.43 - Preview
- ValueClick (VCLK) 4:05pm, $0.39
- Walter Energy (WLT) 4:01pm, $(0.75)
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Japan Purchases First Oregon Wheat Since Discovery of GMO Crop
- p Commodities Market, Industry News »
- Burger Costs Rising With Beef Supply at 21-Year Low: Commodities
- Pan Pacific Sees Copper Surplus at 5-Year High on Slowing China
- Wheat Rises a Fifth Day on Speculation Chinese Demand to Gain
- WTI Rises to One-Week High on Fed Stimulus, China Manufacturing
- China Makes First Investment in South African Wine Industry
- Gold Swings Expand as Jobs Help Gauge Stimulus: Chart of the Day
- Palm Climbs to One-Week High as Malaysian Exports Signal Demand
- Coffee Exports From Indonesia’s Sumatra Surge to Four-Year High
- Barrick Takes $8.7 Billion Writedown, Cuts Dividend on Gold Drop
- Rebar Extends Monthly Gain as China Manufacturing Strengthens
- No Rebound for Uranium Seen as Japan Plants Idle: Energy Markets
- Chile Copper Output Up for Second Month as Strikes Ebb: BI Chart
- COMMODITIES DAYBOOK: U.S. Beef Production Plunges to 21-Year Low
- ANZ Opens 50 Ton Gold Vault in Singapore as Asian Demand Climbs
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team