• It's Coming...

    MARKET EDGES

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

TODAY’S S&P 500 SET-UP – September 11, 2013


As we look at today's setup for the S&P 500, the range is 32 points or 1.37% downside to 1661 and 0.54% upside to 1693.      

SECTOR PERFORMANCE


THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2

EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10A


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.48 from 2.49
  • VIX  closed at 14.53 1 day percent change of -7.04%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, Sept. 6 (prior 1.3%)
  • 10am: Wholesale Inventories M/m, July, est. 0.3% (pr -0.2%)
  • 10am: Wholesale Sales M/m, July, est. 0.5% (prior 0.4%)
  • 10:30am: DoE Inventories
  • 11am: Fed to purchase $1.25b-$1.75b in 2036-2043 sector
  • 1pm: U.S. to sell $21b 10Y notes in re-opening

GOVERNMENT:

    • De Blasio gets most votes in New York Democratic mayoral primary
    • House, Senate in session
    • House Transportation and Infrastructure Cmte to unveil Water Resources Reform and Development Act of 2013, 2pm
    • House Oversight panel meets to review TARP inspector general’s report on Treasury role in Delphi pension bailout, 1:30pm
    • House Financial Svcs panel holds hearing on the Fed at 100 years, 2pm

WHAT TO WATCH:

  • Obama pursues Russian proposal on Syria chemical weapons
  • IBM to sell customer-service business to Synnex for $505m
  • Apple iPhone 5C seen as expensive: analysts
  • Vodafone $10.2b Kabel Deutschland deal under threat
  • Disney delays fifth “Pirates of the Caribbean” film
  • Canada, Ontario sell $1.1b in GM shares
  • Verizon said to plan record bond sale of up to $49b
  • China’s richest man hunts hotel mgmt cos. in U.S.
  • KKR said to weigh teaming with Japan INCJ for Panasonic unit
  • U.K. unemployment unexpectedly falls to 7.7%

EARNINGS:

    • Dollarama (DOL CN) 7:30am, C$0.78
    • Evertz Technologies (ET CN) 4pm, C$0.14
    • Men’s Wearhouse (MW) 5:30pm, $1.14
    • Vera Bradley (VRA) 4:03pm, $0.32

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Ruthenium Slides to Eight-Year Low as Hard-Disk Demand Declines
  • Tin Shortage Worsens as Indonesia Rules Curb Supply: Commodities
  • Copper Climbs as Banks Project Stronger Chinese Economic Growth
  • Brent Crude Rises From Two-Week Low as Syria Strike Risk Remains
  • Gold Swings Near Three-Week Low as Obama Seeks Syria Delay
  • Soybeans Gain Before USDA Report Set to Signal Lower U.S. Output
  • Cocoa Rises to 1-Year High in New York on Shortage; Coffee Gains
  • Aluminum Buyers in Japan Said to Win Fee Cut From Suppliers
  • Sugar Harvest in India Seen Beating Estimate to Worsen Glut
  • Hurricane Humberto Is First of Season; Storm Gabrielle Weakens
  • Goldman Expects Decline in Commodities Index in 12 Months on Oil
  • Power Prices to Hold Near 8-Year Low on Weather: Energy Markets
  • China Scrap Copper Imports Surge as Smelters Struggle: BI Chart
  • Gold Decline Seen by Goldman as Fed’s Tapering to Spur Selling

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