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TODAY’S S&P 500 SET-UP – August 7, 2013


As we look at today's setup for the S&P 500, the range is 38 points or 1.26% downside to 1676 and 0.98% upside to 1714.                                    

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1A

THE HEDGEYE DAILY OUTLOOK - 2

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.33 from 2.34
  • VIX closed at 12.72 1 day percent change of 7.43%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: Mortgage Applications, Aug. 2 (prior -3.7%)
  • 11am: Fed to buy $1.25b-$1.75b debt in 2036-2043 sector
  • 10:30am: DOE Energy Inventories
  • 1pm: U.S. to sell $24b 10Y notes
  • 1:40pm: Fed’s Pianalto speaks on monetary policy in Cleveland
  • 3:00pm: Consumer Credit, June, est. $15b (prior $19.6b)
  • Bank of Japan sets target rate, 2014 monetary base rate

GOVERNMENT:

    • 6:30am: Quinnipiac Univ. N.J. likely voter poll on Senate race; including Democratic, GOP primary voters
    • 3:50pm: President Obama delivers speech to troops at Camp Pendleton in Calif.

WHAT TO WATCH:

  • Amgen said to boost Onyx Pharmaceuticals bid to $130/shr
  • Mead Johnson to pay $33m to end China formula probe
  • Disney profit little changed, “Lone Ranger” hits film unit
  • Bats said glitch yday was network issue, not w/ software
  • Direct Edge, Nasdaq exchanges also had issues yday
  • Anadarko doubles qtr div. to 18c/shr from 9c, est. 11c
  • Wal-Mart may bid for Li Ka-Shing’s ParknShop: Reuters
  • TPG, Carlyle, GIC may bid for H.K.’s Quality Healthcare: SCMP
  • Omnicom Investor sues over merger with Publicis Groupe
  • Yuan advances to 19-yr high on PBOC fixing, convertibility bet

EARNINGS:

AM EARNS:

    • AMETEK (AME) 7am, $0.52
    • AOL (AOL) 7am, $0.43
    • Ariad Pharmaceuticals (ARIA) 7:35am, $(0.40)
    • Avnet (AVT) 8am, $0.96
    • Carlyle Group (CG) 6:30am, $0.55
    • Cimarex Energy (XEC) 6am, $1.27
    • CommonWealth REIT (CWH) 6:28am, $0.64
    • Devon Energy (DVN) 8am, $0.95 - Preview
    • Duke Energy (DUK) 7am, $0.93
    • Gogo (GOGO) 7:30am, $(0.37)
    • HollyFrontier (HFC) 7:30am, $1.39
    • Icahn Enterprises (IEP) 8am, No est
    • ING US (VOYA) 5:55am, $0.63
    • Lexington Realty Trust (LXP) 7:30am, $0.24
    • Marsh & McLennan (MMC) 7am, $0.67
    • Melco Crown (MPEL) 7:51am, $0.27
    • Molex (MOLX) 7:30am, $0.35
    • Newcastle Investment (NCT) 6:30am, $0.11
    • Pepco Holdings (POM) 6:03am, $0.23
    • Ralph Lauren (RL) 8am, $1.94
    • Sinclair Broadcast (SBGI) 7:30am, $0.15
    • SunEdison (SUNE) 6am, $(0.15)
    • Time Warner (TWX) 7am, $0.76
    • Valeant Pharmaceuticals (VRX CN) 6am, $1.28

PM EARNS:

    • Agrium (AGU CN) 5:30pm, $4.97 - Preview
    • American Water Works (AWK) 4:15pm, $0.61
    • Array BioPharma (ARRY) 4:19pm, $(0.13)
    • ARRIS Group (ARRS) 4pm, $0.26
    • Brookdale Senior Living (BKD) 4:43pm, $-
    • CenturyLink (CTL) 4:07pm, $0.66
    • Concho Resources (CXO) 5pm, $1.00
    • Continental Resources (CLR) 4:37pm, $1.25
    • Corrections Corp of America (CXW) 4:10pm, $0.65
    • Diamond Resorts Intl (DRII) After-Mkt, No est.
    • DryShips (DRYS) 4:05pm, $(0.07)
    • Energy Transfer Equity (ETE) 5:05pm, $0.54
    • Energy Transfer Partners (ETP) 5:09pm, $0.47
    • Fifth Street Finance (FSC) 4:28pm, $0.28
    • Franco-Nevada (FNV CN) 5:18pm, $0.21
    • Frontier Communications (FTR) 4:01pm, $0.06
    • Fusion-io (FIO) 4:05pm, $(0.03)
    • Green Mountain Coffee (GMCR) 4pm, $0.76
    • Groupon (GRPN) 4pm, $0.02
    • Halozyme Therapeutics (HALO) 4:05pm, $(0.14)
    • MarkWest Energy (MWE) 4:01pm, $0.22
    • MBIA (MBI) 4:01pm, $0.14
    • Mondelez Intl (MDLZ) 4:01pm, $0.34 - Preview
    • Polypore Intl (PPO) 4:01pm, $0.39
    • Prudential Financial (PRU) 4:07pm, $1.99
    • Redwood Trust (RWT) 4:15pm, $0.34
    • SolarCity (SCTY) 4:01pm, $(0.38)
    • St Joe (JOE) 4:01pm, $0.02
    • Sun Life Financial (SLF CN) 5:10pm, C$0.66
    • Tesla Motors (TSLA) 4:01pm, $(0.20)
    • Transocean (RIG) 4:30pm, $1.08
    • Tronox (TROX) 5:43pm, $(0.05)
    • WageWorks (WAGE) 4:05pm, $0.17

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • JPMorgan Sued With Goldman Sachs in Aluminum Antitrust Case
  • p Commodities Market, Industry News »             
  • Palmer’s ‘Mad’ Mine Costs China on Learning Curve: Commodities
  • Gold Drops to Three-Week Low on Speculation Fed to Trim Stimulus
  • Wheat Declines as Iraq, Egypt Shun Grain From U.S. in Tenders
  • Copper Falls on Speculation Fed Will Opt to Limit Debt Purchases
  • WTI Crude Fluctuates Amid Signs of Declining U.S. Inventories
  • Rebar Climbs to Three-Month High as Iron Ore Prices Gain
  • Bank of America’s Blanch Says WTI Crude Could Fall $8 to $10
  • Palm Oil Declines to One-Week Low as Peak-Output Cycle Begins
  • BHP’s CEO Sees US Shale Expansion as Mineral Demand Grows
  • Silver ETF Holdings Approach Record and Critical Price Levels
  • Palladium’s Pennant Pattern Signals Increase: Technical Analysis
  • Easy Cash Ebbs for $300 Billion Asean Port-to-Rail Cost: Freight
  • Corn in U.S. Seen by Cordonnier at Risk of Damage From Frost

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