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    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

TODAY’S S&P 500 SET-UP – September 6, 2013


As we look at today's setup for the S&P 500, the range is 24 points or 0.73% downside to 1643 and 0.72% upside to 1667.                     

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

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EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.46 from 2.48
  • VIX  closed at 15.77 1 day percent change of -0.69%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8am: Fed’s Evans speaks in Greenville, S.C.
  • 8:30am: Change in Non-Farm Payrolls, Aug., est. 180k (162k)
  • 8:30am: Unemployment Rate, Aug., est. 7.4% (prior 7.4%)
  • 1pm: Baker Hughes rig count
  • 1:30pm: Fed’s George speaks on economy in Omaha, Neb.

GOVERNMENT:

    • President Obama attends G-20 Summit in Russia; meets with Chinese President Xi, French President Hollande
    • Senate, House hold pro forma sessions to file resolution authorizing limited military force in Syria
    • Sec. of State John Kerry departs on 3-day trip to Lithuania, France, U.K. to meet with EU foreign ministers, discuss Syria

WHAT TO WATCH:

  • U.S. employers probably expanded payrolls at faster pace
  • Nielsen said to be negotiating FTC concessions for Arbitron deal
  • Apple said to near deal with Japan’s DoCoMo to sell iPhone
  • Apple supplier fire spurs biggest chip price rise in 3 yrs
  • Ford’s Mulally says he’ll stay at least through 2014
  • Google says e-mail content mining lawsuit should be thrown out
  • Syria’s Laham urges U.S. to abstain from "reckless" action
  • Half of Fed policy committee may leave after Bernanke exit: WP
  • U.K. manufacturing rose for a 2nd month in July
  • Gorman says chance of another financial crisis “close to zero”
  • SAC insider case’s second tipper said to be New Jersey doctor
  • Panasonic likely to sell health-care unit to KKR, Nikkei says

EARNINGS:

    • Mattress Firm (MFRM) Bef-mkt, $0.51
    • SHFL Entertainment (SHFL) 4pm, $0.22
    • Smithfield Foods (SFD) 6am, $0.47
    • UTi Worldwide (UTIW) 8am, $0.14

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Tin Jumps to Five-Month High as Top Seller Indonesia Curbs Trade          
  • Gold Traders Split on Two-Year Anniversary of Peak: Commodities
  • Copper Rises Before Report Projected to Show U.S. Hiring Sped Up
  • Gold Trades Near Two-Week Low in London Before U.S. Jobs Report
  • Brent Set for Fourth Weekly Gain as U.S. Pushes for Syria Strike
  • Corn Traders Most Bearish in Six Weeks as Crops Near Maturity
  • Sugar Climbs to Three-Week High as Surplus Shrinks; Coffee Gains
  • Timah Force Majeure May Cut Supply by Over 500 Tons/Wk: Barclays
  • Rebar Declines to One-Month Low on Iron Ore Price, Mill Output
  • Nickel Inventories Keep On Climbing, Reach Fresh High: BI Chart
  • Crude May Rise on Signs the U.S. May Attack Syria, Survey Shows
  • U.S. Corn, Soy Crops Seen Below USDA Forecast, Survey Shows
  • Fracking Near $14 Million Homes Advocates for U.K Shale: Energy
  • Soybeans Climb on Speculation U.S. Will Reduce Harvest Estimate

THE HEDGEYE DAILY OUTLOOK - 5

 

CURRENCIES

 

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GLOBAL PERFORMANCE

 

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EUROPEAN MARKETS

 

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ASIAN MARKETS

 

THE HEDGEYE DAILY OUTLOOK - 8

MIDDLE EAST

 

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The Hedgeye Macro Team