THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – August 26, 2013


As we look at today's setup for the S&P 500, the range is 29 points or 1.29% downside to 1642 and 0.45% upside to 1671.       

                                                                                                                        

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

 

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EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.44 from 2.44
  • VIX  closed at 13.98 1 day percent change of -5.28%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Durable Goods, July, est. -4.0% (prior rev. 3.9%)
  • 10:30am: Dallas Fed Mfg Activity, Aug., est. 3.9 (prior 4.4)
  • 11am: Fed to buy $1.25b-$1.75b in 2036-2043 sector
  • 11:30am: U.S. to sell $30b 3M bills, $25b 6M bills
  • U.S. Weekly Rates Agenda

GOVERNMENT:

    • Under Sec. of Commerce for Intl Trade Francisco Sanchez visits Brazil, Uruguay to promote U.S. oil, gas exports
    • Washington Weekly Agenda

WHAT TO WATCH:

  • Amgen to buy Onyx for $10.4b to gain cancer market access
  • ONGC to pay Anadarko $2.64b for stake in gas field
  • Pritzker to buy TMS International in $1b deal: WSJ
  • Goldman options glitch limited to “tens of millions”: WSJ
  • Goldman puts 4 on leave after options error, FT reports
  • KPN wins America Movil’s support for $11b German deal
  • Wal-Mart puts India expansion on hold: FT
  • Weinstein’s “The Butler” tops box office for 2nd wknd
  • U.S. Weekly Agendas: Finance, Industrials, Energy, Health, Consumer, Tech, Media/Ent, Transports
  • North American M&A Agenda
  • Canada Weekly Agendas: Energy, Mining
  • Consumer spending probably rose in July: Eco Weekly Preview
  • U.S. GDP, King Speech Anniv., Carney: Wk Ahead Aug. 26-31

     EARNINGS:

    • No earnings scheduled from S&P 500

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Rubber Enters Bull Market as Recovery in China Boosts Demand              
  • Hedge Fund Gold Bets at Six-Month High After Rally: Commodities
  • Rubber on Tokyo Commodities Exchange Advances Into Bull Market
  • Soybeans Rally the Most Since 2011 as Hot Weather Curbs Crops
  • Gold Swings as Investors Weigh Stimulus After Home Sales Decline
  • WTI Crude Trades Near Four-Day High Amid Economic Recovery Signs
  • Indonesia Can Expand Plantations to Add 2.3M Tons Sugar a Year
  • ThyssenKrupp Dividend Forecast Reduced to Zero by Bloomberg
  • Export-Quota Removal in Indonesia Seen Negative for Nickel Price
  • Palm Oil Rallies Most in Eight Months as Weather Hurts Soybeans
  • Iron Ore Strength Suggests Mild China Rebound: Morgan Stanley
  • Russia Offers Fukushima Cleanup Help as Tepco Reaches Out
  • Gold Is Last Man Standing as Rupee Fuels Inflation: India Credit
  • Indian Banks, Traders Extend Gold Import Suspension on Curbs

THE HEDGEYE DAILY OUTLOOK - 5

 

CURRENCIES

 

THE HEDGEYE DAILY OUTLOOK - 6

 

GLOBAL PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 3

 

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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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