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TODAY’S S&P 500 SET-UP – August 14, 2013


As we look at today's setup for the S&P 500, the range is 32 points or 0.72% downside to 1682 and 1.17% upside to 1714.         

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2A

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.38 from 2.39
  • VIX closed at 12.31 1 day percent change of -3.90%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, Aug. 9 (prior 0.2%)
  • 8:30am: Producer Price Index M/m, July, est. 0.3% (prior 0.8%)
  • 10:30am: DOE Energy Inventories
  • 11am: New York Fed report on household debt
  • 11am: Fed to purchase $1.25b-$1.5b bonds in 2036-2043 sector
  • 1:20pm, 3:15pm: Fed’s Bullard speaks in Paducah, Ky.

GOVERNMENT:

    • Federal Reserve may say whether it plans to appeal a U.S. District Court’s reversal of cap on debit-card fees
    • 1pm: Sen. Ben Cardin, D-Md., holds town hall w/ civilian Defense Dept employees to discuss sequestration

WHAT TO WATCH:

  • JPMorgan trading-loss charges said to be announced by U.S. today
  • Euro-area 2Q GDP rises 0.3% Q/q, exits record-long recession
  • Cook’s moves to return Apple cash fall short of satisfying Icahn
  • BlackBerry said to have sought buyers since ’12 without success
  • Obama, Reid aides said to discuss Fed deliberations post-letter
  • Zynga CEO Mattrick shakes up management in reorganization push
  • MSCI index changes due after close of trading today
  • Funds reporting stake changes, additions, deletions via 13-F filings
  • Third Point Reinsurance IPO may price today
  • Germany, France 2Q GDP expanded more than forecast
  • Softer U.S. mortgage rule said to be proposed at end of Aug.
  • CBS prime-time TV viewership shrinks 4.7% after cable blackout
  • Weyerhaeuser home-building unit attracts bidding interest: WSJ

EARNINGS:

    • Agilent Technologies (A) 4:05pm, $0.62
    • B2Gold (BTO CN) 6:30am, $0.03
    • Baytex Energy (BTE CN) 8am, C$0.34
    • CACI International (CACI) 4:05pm, $1.60
    • Cisco Systems (CSCO) 4:04pm, $0.51 - Preview
    • Deere (DE) 7am, $2.18 - Preview
    • Himax Technologies (HIMX) 4:30pm, $0.11
    • Linamar (LNR CN) 4pm, C$0.81
    • Macy’s (M) 8am, $0.78 - Preview
    • Metro (MRU CN) 7am, C$1.54
    • NetApp (NTAP) 4:01pm, $0.49
    • NetEase (NTES) 6pm, $1.25
    • Pinnacle Foods (PF) 8am, $0.27
    • Renren (RENN) 6pm, $(0.01)
    • Rona (RON CN) 7am, C$0.33
    • Silver Wheaton (SLW CN) 5:53pm, $0.25
    • Towers Watson (TW) 6am, $1.27
    • Vipshop Holdings (VIPS) 4:01pm, $0.18

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Losing Faith in Gold From Ghana to Vancouver Proves 2013 Rout
  • Potash Mines Imperiled in Europe as Market Braces: Commodities
  • Gold Smuggling to Climb in India on Tax Increase, Festive Demand
  • WTI Drops for First Day in Four Amid Signs Fuel Stockpiles Rose
  • Corn Rebounds on Weather Concern as Wheat Futures Extend Drop
  • Copper Trades Near Nine-Week High Amid Economic Recovery Signals
  • Palm Oil Output Surge May Limit Gains in Futures, CIMB’s Ng Says
  • Rebar Snaps 10-Day Rally in Shanghai as Steel Mills Sell Futures
  • Gold Swings as Investors Weigh Fed Stimulus, Physical Purchases
  • Gold Rebound to $1,600 Seen by Fund Manager Day on Bank Stimulus
  • Chinese Coking Coal Demand Met by Plentiful, Low-Priced Imports
  • Brazil $42 Billion Rail Bet to Cut Iron Ore-Farm Costs: Freight
  • Cocoa Deliveries in Brazil’s Bahia Increase 17%, Hartmann Says
  • Escondida Miners Will Begin 1-Day Strike Tomorrow, Union Says

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