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TODAY’S S&P 500 SET-UP – August 5, 2013


As we look at today's setup for the S&P 500, the range is 20 points or 1.03% downside to 1692 and 0.14% upside to 1712.                      

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2a

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.31 from 2.30
  • VIX closed at 11.98 1 day percent change of -7.42%

MACRO DATA POINTS (Bloomberg Estimates):

  • 10am: ISM Services Index, July, est. 53.0 (prior 52.2)
  • 11am: Fed to buy $1.25b-$1.75b debt in 2036-2043 sector
  • 11:30am: U.S. to sell 3M, 6M bills
  • 11:45am: Fed’s Fisher speaks on economy in Portland, Ore.
  • U.S. Weekly Rates Agenda

GOVERNMENT:

    • Transportation Sec. Anthony Foxx, NHTSA hold event highlighting latest pedestrian fatality data, agency efforts to reverse trend of rising fatalities, 11am
    • Washington Weekly Agenda

WHAT TO WATCH:

  • Apple can keep selling iPhone 4 after reprieve from U.S.
  • U.S. decision seen aiding cheaper iPhone push
  • China services, manufacturing indicate slowdown stabilizing
  • Terrorism threat extends U.S. embassy closures through Aug. 10
  • CBS blackout continues on Time Warner Cable stations
  • New York Times agrees to sell Boston Globe to John Henry
  • Fed should reverse commodity-trading policy: CFTC’s Chilton
  • MBK said in exclusive talks to buy ING’s Korean insurance unit
  • California Governor Brown ends immediate threat of BART strike
  • U.S. Weekly Agendas: Finance, Industrials, Energy, Health, Consumer, Tech, Media/Ent, Real Estate, Transports
  • North American M&A Agenda
  • Canada Weekly Agendas: Energy, Mining
  • U.S. Services, BOJ, Carney, HSBC, Rohani: Wk Ahead Aug. 5-10

EARNINGS:

    • Atlas Pipeline Partners (APL) 4:35pm, $0.39
    • Bristow Group (BRS) 5:05pm, $0.94
    • Dun & Bradstreet (DNB) 4:15pm, $1.52
    • EW Scripps (SSP) 7:30am, $0.07
    • EXCO Resources (XCO) 4:01pm, $0.11
    • Fidelity National Financial (FNF) 4:04pm, $0.63
    • GT Advanced (GTAT) 4:15pm, $0.09
    • Hologic (HOLX) 4:01pm, $0.37
    • Integrys Energy Group (TEG) 5:07pm, $0.37
    • Jack in the Box (JACK) 4:01pm, $0.38
    • Kosmos Energy (KOS) 7am, $(0.10)
    • Macerich (MAC) Aft-mkt, $0.81
    • Mindray Medical Intl (MR) 5pm, $0.50
    • PAA Natural Gas Storage (PNG) 4:07pm, $0.19
    • Plains All American Pipeline (PAA) 4:05pm, $0.60
    • ProAssurance (PRA) 4:01pm, $0.87
    • Retail Properties of America (RPAI) 4:01pm, $0.23
    • Rockwood (ROC) 6:28am, $0.76
    • Stone Energy (SGY) 4:03pm, $0.69
    • Sunstone Hotel Investors (SHO) 4:14pm, $0.30
    • Tesoro Logistics (TLLP) 4:30pm, $0.47
    • Tyson Foods (TSN) 7:30am, $0.60
    • Unum Group (UNM) 4pm, $0.79
    • Volcano (VOLC) 4:05pm, $0.00
    • Vornado Realty Trust (VNO) 5:17pm, $1.21

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Fed Should Reverse Commodity-Trading Policy, CFTC’s Chilton Says
  • p Commodities Market, Industry News »             
  • Gold Bulls Cut Wagers on Signs U.S. Growth Quickens: Commodities
  • U.S. Milk Climbs as Fonterra Halt Seen Spurring Demand Elsewhere
  • Corn Slumps to Lowest Since 2010 on Outlook for Record U.S. Crop
  • Brent Drops a Second Day as Libya Reopens Port, Rohani Appointed
  • Gold Swings Between Gains and Declines Amid Stimulus Speculation
  • Copper Swings Between Gains and Drops Amid Signs of U.S. Rebound
  • Palm Oil Declines as Global Cooking Oil Supplies Seen Expanding
  • Shale Drillers Pull Ahead of Global Oil Giants in Profit: Energy
  • Cocoa Net Long of Money Managers on Liffe Rose in Latest Week
  • Port Hedland Iron Ore Exports Drop as Shipments to China Decline
  • Metal Prices May Be Capped by Negative Economic Surprises
  • Lab Burger Reared to Challenge Real Meat Faces Taste Test Today
  • COMMODITIES DAYBOOK: Gold Bulls Cut Bets as U.S. Growth Quickens
  • Rusal Says Aluminum Premiums to Stay High as LME Tackles Backlog

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