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