THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – August 19, 2013


As we look at today's setup for the S&P 500, the range is 36 points or 0.84% downside to 1642 and 1.34% upside to 1678.                   

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: 2.51 from 2.49
  • VIX  closed at 14.37 1 day percent change of -2.44%

MACRO DATA POINTS (Bloomberg Estimates):

  • 11am: Fed to purchase $1.25b-$1.75b in 2036-2043 sector
  • 11:30am: U.S. to sell $30b 3M, $25b 6M bills
  • 4pm: USDA crop conditions report
  • U.S. Weekly Rates Agenda

GOVERNMENT:

    • Obama to meet with regulators, discuss fin-reg overhaul
    • South Korea, U.S. begin joint military exercises taking place through Aug. 30
    • North Korea agrees to reunion talks after Gaesong pact
    • Washington Weekly Agenda

WHAT TO WATCH:

  • Blackstone said in talks to buy stake in Goldman unit
  • Banks seeking protection from govt. seizure of SAC assets: WSJ
  • SEC probes J.P. Morgan China hires, NYT reports
  • Alibaba in holders’ structure talks with HK Exchange: WSJ
  • Yahoo names Maynard Webb as chairman
  • Petrobras to sell $2.1b in oil, petrochemical assets
  • Apple seeks fingerprint reader patent in Europe: Patently Apple
  • JPMorgan seeking to sell 1 Chase Manhattan Plaza
  • Co. settles with pension funds over Lehman for $23m
  • CVC Capital buys Skrill Group for $800m
  • China July new home prices rise; big cities see record gains
  • Shire hires Lazard to repel takeover bid: Sunday Times
  • News Corp. probed in U.K. as corporate suspect: Independent
  • U.S. seeking appeal requiring Bernanke testimony on AIG
  • Abbott accused of racketeering in Depakote marketing
  • “The Butler” leads film sales w/ $25m for Weinstein
  • U.S. Weekly Agendas: Finance, Industrials, Energy, Health, Consumer, Tech, Media/Ent, Real Estate, Transports
  • Home sales probably rose to 3-yr high: Eco Weekly Preview
  • Jackson Hole, FOMC, Home Sales, Ifo: Wk Ahead Aug. 17-24

EARNINGS:

    • Bob Evans (BOBE) 4pm, $0.57
    • Intl Rectifier (IRF) 4pm, ($0.10)
    • Raven Industries (RAVN) 9am, $0.27
    • Urban Outfitters (URBN) 4pm, $0.48

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Corn-Crop Cuts by USDA Seen Premature as Goldman Predicts Record
  • Gold Bears Retreat as Prices Reach Two-Month High: Commodities
  • Copper Falls as Investors Await Cues on Fed’s Stimulus Stance
  • Gold Trades Below Two-Month High as Rally Spurs Investor Sales
  • Corn and Soybeans Advance as Dry Weather Threatens U.S. Yields
  • Sugar Tumbles as Fund Buying Fails to Spur Rally; Cocoa Retreats
  • WTI Crude Fluctuates as Goldman Raises Brent Forecasts on Supply
  • New Zealand Reveals Second Case of Tainted Milk Exports to China
  • Rebar Ends Near Highest in Four Months on China Demand Outlook
  • Gold Swap Rates Negative on Physical Supply Concerns: BI Chart
  • Tin Sales From Indonesia Drop Most in 18 Months on Purity Rules
  • Hedge Fund Bulls Make Late Exit From Natural Gas: Energy Markets
  • Scottish Independence Case Clouded by Oil Industry Growth Drag
  • Gold Seen Rallying by End of Year as Physical Demand Gains

THE HEDGEYE DAILY OUTLOOK - 5A

 

CURRENCIES

 

THE HEDGEYE DAILY OUTLOOK - 6A

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