THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – August 12, 2013


As we look at today's setup for the S&P 500, the range is 35 points or 0.73% downside to 1679 and 1.33% upside to 1714.                                             

                                                                                  

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

 

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.26 from 2.28
  • VIX closed at 13.41 1 day percent change of 5.34%

MACRO DATA POINTS (Bloomberg Estimates):

  • 11am: Fed to buy $1.25b-$1.75b notes in 2036-2043 sector
  • 11:30am: U.S. to sell $30b 3M bills, $25b 6M bills
  • 2pm: Monthly Budget Stmt, July, est. -$90b (prior -$69.6b)
  • 4pm: USDA issues supply/demand forecast for grain, oilseed
  • U.S. Weekly Rates Agenda

     GOVERNMENT:

    • Sec. of State John Kerry travels to LatAm
    • Defense Sec. Chuck Hagel travels in Southeast Asia
    • Washington Weekly Agenda

WHAT TO WATCH:

  • Rockwell Collins to buy Arinc from Carlyle for $1.39b
  • U.S. may announce charges this wk against former JPM traders
  • Dell investor Icahn seeks fast-track status for Delaware suit
  • Medtronic buys Cardiocom for $200m cash, WSJ Says
  • J.C. Penney board considers options against Ackman: WSJ
  • Apple to unveil next iPhone at Sept. 10 event, AllThingsD says
  • Japan’s economy slowed more than forecast in 2Q
  • Newcrest Mining has $5.7b full-yr loss after writedown
  • NBC to announce buy of Stringwire on Monday, NYTimes says
  • GM cutting presence in S. Korea amid labor costs: Reuters
  • Samsung losses to Apple give iPhone maker negotiation edge
  • Misra starts derivatives exchange as rival to Nasdaq, CME
  • Sony’s "Elysium" has sales of $30.5m, shy of forecasts
  • CFTC subpoenas metals warehousing firm, Reuters says
  • Singapore cuts export forecast as China damps recovery
  • Finra inquiring on role of analysts in IPO pitch meetings: NYT
  • Forstmann says it’s considering sale of IMG talent agency
  • Nova Capital buys Newell units for $214m, Sunday Times Reports
  • 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. Retail Sales, SAC, Cisco: Wk Ahead Aug. 10-17

 

EARNINGS (all times ET, times are approximate):

    • Iamgold (IMG CN) 5:05pm, $0.09
    • InterOil (IOC) 4:30pm, $0.03
    • Legacy Oil + Gas (LEG CN) Aft-mkt, $0.08
    • Northern Tier Energy (NTI) 4:47pm, $0.47
    • NQ Mobile (NQ) 4:30pm, $0.20
    • Sina (SINA) 4:30pm, $0.12
    • Sysco (SYY) 8am, $0.54

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • China on Track to Overtake India as Gold Consumption Jumps 54%          
  • Hedge Funds Trim Gold Bets on Stimulus Speculation: Commodities
  • Gold Climbs to Highest This Month on Dollar, Technical Level
  • India Gold Premiums Seen Extending Climb to Record on Curbs
  • Copper Swings Between Gains and Drops After Japanese Growth Data
  • WTI Trades Near Four-Day High Amid Signs European Recession Over
  • Soybeans Rise Ahead of USDA Report That May Cut Stocks Outlook
  • Sugar Gains to 6-Week High as Brazil Favors Ethanol; Cocoa Falls
  • Oil Traders Sell Seeing End to Fed’s Cheap Money: Energy Markets
  • Platinum-Rhodium Ratio at Record High on Supply Risks: BI Chart
  • Cosco Cargo Ship Sets Sail in First Transit of Northeast Passage
  • German Utilities Hammered in Market Favoring Renewables: Energy
  • Newcrest May Extend Cost Cuts After $5.7 Billion Full-Year Loss
  • Olam Sees Potential for Indian Sugar Exports on Rupee to Surplus
  • Platinum ETF Holdings Rise 45% Ytd on Supply Concerns: BI Chart

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

 

 

 

 

 

 

 

 

 

 

 


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