THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – August 15, 2013


As we look at today's setup for the S&P 500, the range is 30 points or 0.20% downside to 1682 and 1.58% upside to 1712.                                   

                                                                                            

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: 2.40 from 2.39
  • VIX closed at 13.04 1 day percent change of 5.93%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:15am: Fed’s Bullard speaks on economy in Louisville, Kentucky
  • 8:30am: Initial Jobless Claims, Aug. 9, est. 335k (prior 333k)
  • 8:30am: Empire Manufacturing, Aug. 7, est. 10 (prior 9.46)
  • 8:30am: Consumer Price Index M/m, July, est. 0.2% (prior 0.5%)
  • 9am: Total Net TIC Flows, June (prior $56.4b)
  • 9:15am: Industrial Production, July, est. 0.3% (prior 0.3%)
  • 9:45am: Bloomberg Consumer Comfort, Aug. 11
  • 10am: NAHB Housing Market Index, Aug., est. 57 (prior 57)
  • 10am: Philadelphia Fed Biz Outlook, Aug., est. 15 (prior 19.8)
  • 10am: Freddie Mac mortgage rates
  • 10:30am: EIA natural-gas storage change
  • 11am: Fed to purchase $3b-$4b notes in 2019-2020 sector
  • 11am: Treasury announces offering size for auction of 5Y tips

GOVERNMENT:

    • 11am: FDIC hosts teleconference on interim final capital rule for community banks approved by board on July 9

WHAT TO WATCH:

  • Amgen talks to buy Onyx said to stall over drug trial data
  • JPMorgan said to expect multiple fines as Whale traders charged
  • AMR bankruptcy plan goes to judge after U.S. suit on merger
  • Cisco cutting jobs as Chambers turnaround hit by sales slowdown
  • Credit Cards report July Charge-Offs, delinquencies
  • Gold bull Paulson cuts SPDR stake by half in 2Q amid bear market
  • Cohen’s SAC reduces U.S. stock holdings by $2b in 2Q amid probe
  • BP asks judge to deny investors’ bid to sue as group over spill
  • Loeb’s Third Point Re raises $276m pricing IPO at low end
  • U.K. July retail sales rise more than forecast amid heatwave
  • Lenovo 1Q profit beats ests. on handset market share gains
  • Berkshire 13F filing due today after Edgar glitch: Reuters

EARNINGS:

    • Applied Materials (AMAT) 4pm, $0.19
    • Aspen Technology (AZPN) 4:02pm, $0.08
    • Bally Technologies (BYI) 4:01pm, $0.94
    • Dell (DELL) 4:01pm, $0.24
    • E-Commerce China Dangdang (DANG) Bef-mkt, $(0.15)
    • Estee Lauder (EL) 7:30am, $0.21
    • Kohl’s (KSS) 7am, $1.04
    • Nordstrom (JWN) 4:05pm, $0.88 - Preview
    • Pan American Silver (PAA CN) Bef-mkt, $0.05
    • Perrigo (PRGO) 7:44am, $1.56
    • Wal-Mart Stores (WMT) 7am, $1.25 – Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Bull Paulson Cuts SPDR Stake by Half Amid Bear Market
  • Cocoa Crunch in Ivory Coast Heads for Bull Market: Commodities
  • Gold Demand Fell 12% to Four-Year Low in Quarter on ETP Selling
  • Brent Crude Rallies to Four-Month High on Crackdown in Egypt
  • Soybeans Rise to Three-Week High on Concern About Dry Weather
  • Copper Declines Amid Speculation Fed Will Reduce Debt Purchases
  • Aluminum Premium Trading Rises as Regulators Focus on Warehouses
  • Commerzbank’s Physical Gold Trading Is Active Amid Bear Market
  • Gasoline Slumps as End of Driving Season Nears: Energy Markets
  • Indonesia’s Kharisma Sells 15,000 Tons of Crude Palm Oil (Table)
  • Indonesia’s July Tin Exports Seen Dropping on Low Prices: Timah
  • Gold Rebound to $1,600 Seen by Fund Manager Day on Bank Stimulus
  • Oil Pipeline From Kurdistan Makes Gulf Keystone Target: Energy
  • Gold Gains to Three-Week High on Signs of Demand as Dollar Drops

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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