THE HEDGEYE DAILY OUTLOOK

08/06/13 07:16AM EDT

TODAY’S S&P 500 SET-UP – August 6, 2013


As we look at today's setup for the S&P 500, the range is 40 points or 1.94% downside to 1674 and 0.40% upside to 1714.             

SECTOR PERFORMANCE


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EQUITY SENTIMENT:


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CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.34 from 2.33
  • VIX closed at 11.84 1 day percent change of -1.17%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:45am: ICSC retail sales
  • 8:30am: Trade Deficit, June, est. -$43.2b (prior -$45b)
  • 8:55am: Redbook weekly retail sale
  • 10am: IBD/TIPP Eco Optimism, Aug., est. 47.5 (prior 47.1)
  • 10am: JOLTs Job Openings, June, est. 3.895m (prior 3.828m)
  • 11am: Fed to buy $4.75b-$5.75b debt in 2018-2019 sector
  • 11:30am: U.S. to sell 4W bills
  • 1pm: U.S. to sell $32b 3Y notes
  • 4:30pm: API crude, oil product inventories

GOVERNMENT:

    • President Obama travels to Phoenix to give remarks on middle class homeownership, then to Burbank, Calif., where he’ll appear on “The Tonight Show with Jay Leno”
    • FDA Dep. Commissioner Michael Taylor delivers remarks at Institute of Medicine discussion of caffeine in dietary supplements, other foods, 9am

WHAT TO WATCH:

  • Australia cuts rate to record 2.5% as currency strengthens
  • Amazon.com’s Jeff Bezos to buy Washington Post for $250m
  • IBM furloughs U.S. workers of hardware group to cut costs
  • Sony rejects Loeb push to sell part of entertainment unit
  • Time Warner Cable makes a-la-carte proposal in CBS dispute
  • Icahn bought 4m Dell shrs on Aug. 1; holds 156.5m shares
  • Revlon to purchase Colomer Group from CVC for $660m
  • Paulson & Co. said to gain in July as recovery fund recoups loss
  • FBI finds vulnerabilities in mkt-moving govt. reports: WSJ
  • Italian contraction slows as recession lasts record 2 yrs

EARNINGS:

AM EARNS:

    • Aircastle (AYR) 7:30am, $0.33
    • American Realty Capital Properties (ARCP) 6:25am, $0.19
    • Archer-Daniels-Midland (ADM) 7am, $0.44
    • Arcos Dorados (ARCO) 8am, $0.56
    • Ares Capital (ARCC) 8am, $0.39
    • BreitBurn Energy Partners LP (BBEP) 8am, $0.13
    • Charter Communications (CHTR) 8am, $0.31
    • Cinemark Holdings (CNK) 6am, $0.52
    • Cognizant Technology Solutions (CTSH) 6am, $0.97
    • CVS Caremark (CVS) 7am, $0.96
    • Denbury Resources (DNR) 7:30am, $0.36
    • Diebold (DBD) 8am, $0.27
    • Dish Network (DISH) 6am, $0.53
    • Dominion Resources (D) 7:30am, $0.65
    • Emerson Electric (EMR) 6:30am, $0.98 - Preview
    • FirstEnergy (FE) 8:25am, $0.54
    • Fossil Group (FOSL) 6:55am, $0.93
    • Harman International Industries (HAR) 8am, $0.86
    • Health Care REIT (HCN) 7:30am, $0.92
    • Henry Schein (HSIC) 6:51am, $1.23
    • Hospitality Properties Trust (HPT) 7am, $0.75
    • Inergy (NRGY) 7:45am, $0.05
    • Inergy Midstream (NRGM) 7:45am, $0.10
    • IntercontinentalExchange (ICE) 7:30am, $2.14
    • International Flavors & Fragrances (IFF) 7am, $1.18
    • Isis Pharmaceuticals (ISIS) 8:30am, $(0.23)
    • Liberty Interactive (LINTA) 6:45am, $0.27
    • Louisiana-Pacific Corp (LPX) 8am, $0.34
    • MGM Resorts International (MGM) 8:30am, $0.01
    • Michael Kors (KORS) 7am, $0.49
    • Molson Coors Brewing (TAP) 7:30am, $1.39
    • Nationstar Mortgage Holdings (NSM) 6:30am, $0.89
    • Oaktree Capital Group (OAK) 8:30am, $1.62
    • OfficeMax (OMX) 7am, $0.03
    • Parker Hannifin Corp (PH) 7:30am, $1.96
    • Regeneron Pharmaceuticals (REGN) 6:30am, $1.75 - Preview
    • Rowan Cos Plc (RDC) 8am, $0.55
    • Ryman Hospitality Properties (RHP) 8:30am, $0.78
    • Saputo Inc (SAP CN) 11:59am, $0.73
    • Scotts Miracle-Gro (SMG) 7am, $2.43
    • Sempra Energy (SRE) 9am, $1.28
    • Spectra Energy (SE) 6:30am, $0.32
    • Spectra Energy Partners (SEP) 8am, $0.37
    • Spirit Aerosystems Holdings (SPR) 7:30am, $0.50
    • Starwood Property Trust (STWD) 7:30am, $0.47
    • Tenet Healthcare (THC) 7:30am, $0.71
    • Textainer Group Holdings (TGH) 9am, $0.95
    • Tidewater Inc (TDW) 7:51am, $0.76
    • TransDigm Group (TDG) 7am, $1.84
    • Zoetis (ZTS) 7am, $0.36 – Preview

PM EARNS:

    • Acadia Pharmaceuticals (ACAD) 4:01pm, $(0.09)
    • Avis Budget Group (CAR) 4:15pm, $0.51
    • BioMed Realty Trust (BMR) 4:47pm, $0.39
    • CF Industries Holdings (CF) 4:05pm, $7.61 - Preview
    • CH Robinson Worldwide (CHRW) 4:15pm, $0.74
    • Computer Sciences (CSC) 4:15pm, $0.67
    • DaVita HealthCare Partners (DVA) 4:01pm, $1.84
    • DigitalGlobe Inc (DGI) 4pm, $(0.26)
    • EOG Resources (EOG) 5:05pm, $1.73
    • Exelixis (EXEL) 4:15pm, $(0.30)
    • First Solar (FSLR) 4:02pm, $0.53
    • Genpact (G) 4pm, $0.25
    • Gulfport Energy Corp (GPOR) 4pm, $0.13
    • Jazz Pharmaceuticals (JAZZ) 4:01pm, $1.51
    • Live Nation Entertainment (LYV) 4:04pm, $0.07
    • Marathon Oil Corp (MRO) 5:26pm, $0.71
    • Nuance Communications (NUAN) 4:01pm, $0.32
    • Oasis Petroleum (OAS) 4:30pm, $0.60
    • RLJ Lodging Trust (RLJ) 4:30pm, $0.58
    • Rosetta Resources (ROSE) 4pm, $0.97
    • SandRidge Energy (SD) 4:05pm, $(0.04)
    • Sotheby’s (BID) 4pm, $1.37
    • Twenty-First Century Fox (FOXA) 4pm, $0.35 - Preview
    • Two Harbors Investment (TWO) 4:05pm, $0.31
    • Vivus (VVUS) 4pm, $(0.41) - Preview
    • Walt Disney (DIS) 4:15pm, $1.01 - Preview
    • Zillow (Z) 4:02pm, $(0.11)

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • China’s Gold Imports From Hong Kong Decline as Demand Slows
  • p Commodities Market, Industry News »             
  • Palladium Shortages Spur Bullish Hedge-Fund Wagers: Commodities
  • Gold Slides Below $1,300 as Investors Weigh Stimulus Outlook
  • Palm Inventories in Malaysia Seen Staying at Lowest in Two Years
  • Copper Rises as German Factory Orders Stoke Rebound Speculation
  • Tanker-Rate Slump Signals Retreat in U.S. Oil Imports: Freight
  • Corn Declines to Lowest Since 2010 on U.S. Crop Progress Report
  • Tin Backwardation Widens as Top Supplier Indonesia Curbs Exports
  • China to Sell 500,000 Tons of Soybeans in Auctions This Week
  • BullionVault Survey Says 37% of Buyers Kept Assets Over Year
  • Italian Oil May Flow as Offshore Drilling Ban Ends: Bull Case
  • S. African Corn Trade Risks Staple-Food Supply: Chart of the Day
  • Coal at Risk as Global Lenders Drop Financing on Climate: Energy
  • Gold to Gain as Output Languishes on Spending Cuts, WGC Says

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CURRENCIES

 

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GLOBAL PERFORMANCE

 

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EUROPEAN MARKETS

 

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ASIAN MARKETS

 

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MIDDLE EAST

 

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The Hedgeye Macro Team

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