• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

TODAY’S S&P 500 SET-UP – September 12, 2013


As we look at today's setup for the S&P 500, the range is 33 points or 1.61% downside to 1662 and 0.35% upside to 1695.                                      

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: 2.45 from 2.47
  • VIX  closed at 13.82 1 day percent change of -4.89%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Initial Jobless Claims, Sept. 7, est. 330k
  • 8:30am: Cont. Claims, Aug. 31, est. 2.968m (prior 2.95m)
  • 8:30am: Import Price Index M/m, Aug., est. 0.5% (prior 0.2%)
  • 8:45am: Bloomberg Sept. U.S. Economic Survey
  • 9am: Fed’s Dudley speaks on panel on OTC derivatives
  • 9:45am: Bloomberg Consumer Comfort, Sept. 8
  • 10am: Freddie Mac mortgage rates
  • 10:30am: EIA natural-gas storage change
  • 11am: Fed to purchase $2.75b-$3.5b in 2020-2023 sector
  • 12pm: Wasde agricultural report
  • 1pm: U.S. to sell $13b 30Y bonds in re-opening
  • 2pm: Monthly Budget Statement, Aug., est. -$147b

GOVERNMENT:

    • Sec. of State John Kerry meets with Russian Foreign Minister Sergei Lavrov in Geneva to discuss Syria
    • SEC holds private meeting with heads of exchanges, other self-regulatory organizations to discuss market-data dissemination systems, 3-hour trading halt on Aug. 22
    • CFTC holds meeting of technology advisory cmte that may discuss concept release for regulating high-speed trading, issues related to swaps trading and record-keeping; approval would trigger a public-comment period, 10am
    • Medicare Payment Advisory Commission begins 2-day mtg, 9:30am
    • House, Senate in session
    • Senate Banking Cmte hears from SunTrust Mortgage CEO Jerome Lienhard on housing finance revisions, 10am

WHAT TO WATCH:

  • Michael Dell, Silver Lake poised to clinch $24.9b buyout
  • SEC’s White to push exchange execs for better data backups
  • Umpqua to buy Sterling Financial for about $30.52/shr
  • Vertex, Ametek to replace AMD, SAIC in S&P 500 on Sept. 20
  • Qualcomm plans $5b share buyback to placate investors
  • Gabrielle weakens to tropical depression, Humberto moves north
  • Indonesia unexpectedly raises key rate to stem currency slide
  • Putin appeals to U.S. public before Kerry-Lavrov Syria talks
  • Italy industrial output unexpectedly falls as slump persists
  • Euro-area industrial output drops more than estimated
  • Josef Ackermann said to plan resignation from Siemens board

EARNINGS:

    • Analogic (ALOG) 4:15pm, $1.35
    • Brady (BRC) 8am, $0.52
    • BRP (DOO CN) 6am, C$0.05
    • Empire (EMP/A CN) 7:03am, C$1.55
    • Hudson’s Bay (HBC CN) 7am, C$0.12
    • Kroger (KR) 8:30am, $0.60
    • Lululemon Athletica (LULU) 7:15am, $0.35
    • Transcontinental (TCL/A CN) 8:52am, C$0.38
    • Ulta Salon (ULTA) 4pm, $0.67
    • United Natural Foods (UNFI) 4:05pm, $0.60

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Goldman Sees Commodity Demand in China Rebounding to December
  • Deere Lures Africa’s First-Time Buyers of Tractors: Commodities
  • Gold Sinks to Four-Week Low as Silver Declines on Taper Bets
  • Copper Reaches One-Week Low on Concern About Outlook for Demand
  • Cocoa Falls in New York on Prospects Rain Will Benefit New Crops
  • Soybeans Climb for Second Day as USDA Seen Cutting Crop Outlook
  • Mistry Sees Palm Weakening as Prices Set for Worst Run Since ’96
  • IEA Sees Less Need for OPEC Crude in 2014 as U.S. Supply Booms
  • Rebar Drops to Five-Week Low as Property Curbs Weaken Outlook
  • Cocoa Shortage Expanding as Chocolate Sales Climb to Record
  • Vietnam’s Rice Output Faces Slide on Crop Switch: Southeast Asia
  • Polar Sea Lane Finds Favor as Suez Security Doubts Grow: Freight
  • Gold May Fall to $1,270 on Head and Shoulder: Technical Analysis
  • Tropical Depression Gabrielle Keeps Speed, Humberto Moves North            

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 - 8

ASIAN MARKETS

 

THE HEDGEYE DAILY OUTLOOK - 9

MIDDLE EAST

 

THE HEDGEYE DAILY OUTLOOK - 10

The Hedgeye Macro Team