THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – August 27, 2013


As we look at today's setup for the S&P 500, the range is 27 points or 0.83% downside to 1643 and 0.80% upside to 1670.               

                                                                                                                

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

 

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EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.40 from 2.42
  • VIX  closed at 14.99 1 day percent change of 7.22%

MACRO DATA POINTS (Bloomberg Estimates):

  • 6:50am: Fed’s Williams speaks on monetary policy in Sweden
  • 9am: S&P/Case Shiller 20 City Home Price Index M/m, June, est. 1% (prior 1.05%)
  • 9am: S&P/CS 20 City Composite Y/y, June, est. 12.1%
  • 10am: Richmond Fed Manuf. Index, Aug., est 0 (prior -11)
  • 10am: Consumer Conf. Index, Aug., est. 79 (prior 80.3)
  • 11am: Fed to buy $4.25b-$5.25b in 2017-2018 sector
  • 11:30am: U.S. to sell 4W bills
  • 1pm: U.S. to sell $34b 2Y notes

GOVERNMENT:

    • CMS, HHS hold 2nd semi-annual meeting of Advisory Panel on Hospital Outpatient Payment, 9am
    • Under Sec. of Commerce for Intl Trade Francisco Sanchez visits Brazil, Uruguay to promote U.S. oil, gas exports

WHAT TO WATCH:

  • Pershing hires Citi to sell entire J.C. Penney stake
    • Ackman’s Pershing sells J.C. Penney stake for $504m
  • U.S. girding for Syria move vows to hold Assad liable
  • Seeks Greek permission for Syria campaign: Kathimerini
  • PetroChina says 3 executives resign amid government probe
  • German Aug. IFO confidence beats ests, at 16-month high
  • India may decide on Mylan’s bid for Strides
  • Daimler to invest $2.7b to expand China production
  • Japan’s ANA to buy stake in Myanmar airline

EARNINGS:

    • Avago Tech (AVGO) 4:05pm, $0.66
    • Bank of Montreal (BMO CN) 6:30am, $1.53 - Preview
    • Bank of Nova Scotia (BNS CN) 7:30am, $1.31 - Preview
    • Brown Shoe (BWS) 7am, $0.22
    • Donaldson (DCI) 7am, $0.45
    • DSW (DSW) 7am, $0.79
    • Heico (HEI) 5:12pm, $0.47
    • Regis (RGS) 6am, $0.12
    • Sanderson Farms (SAFM) 6:30am, $2.66
    • Tiffany & Co (TIF) 7am, $0.74
    • TiVo (TIVO) 4:01pm, $(0.10)
    • Wet Seal (WTSLA) 4:05pm, $0.01
    • WMS Industries (WMS) 4pm, $0.31
    • Workday (WDAY) 4:05pm, $(0.18)

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Garry Jones Named as Chief Executive of London Metal Exchange
  • Coffee Reserves Seen at 2000 Low on Indonesian Rain: Commodities
  • Brent Rises to Five-Month High on Syria Clash, Libya Supply Loss
  • Gold Climbs to Two-Month High on ETP Holdings, Syrian Tensions
  • Money Managers Boost Cocoa Net Long to 54,382 Contracts Aug. 20
  • Copper Declines After Biggest Gain in Stockpiles in Two Months
  • Russia, Kazakhstan Boost Gold Reserves as Mexico Sells, IMF Says
  • Robusta Coffee Rises as Reserves May Decline; White Sugar Gains
  • Copper’s 340,000 Metric Ton Surplus an Overhang on Market, Price
  • Rebar Climbs as Industrial Profits Strengthen Economic Outlook
  • China Boosts Rapeseed Imports as Global Oilseed Output Rises
  • Shell South African Shale Drive Riles Farmers Over Water: Energy
  • Grain-Carrier Rates Rising as Crop Cargoes Near Record: Freight
  • Record Gold in India Seen Hurting Jewelry Demand as Rupee Slumps

THE HEDGEYE DAILY OUTLOOK - 5

 

CURRENCIES

 

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GLOBAL PERFORMANCE

 

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EUROPEAN MARKETS

 

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ASIAN MARKETS

 

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MIDDLE EAST

 

THE HEDGEYE DAILY OUTLOOK - 9

 

 

The Hedgeye Macro Team

 

 

 

 

 

 

 

 

 

 

 

 


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