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
EQUITY SENTIMENT:
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
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
