THE HEDGEYE DAILY OUTLOOK

 

TODAY’S S&P 500 SET-UP – January 13, 2014


As we look at today's setup for the S&P 500, the range is 25 points or 0.94% downside to 1825 and 0.41% upside to 1850.                       

                                                                                                        

SECTOR PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 1

 

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.49 from 2.49
  • VIX  closed at 12.14 1 day percent change of -5.82%

MACRO DATA POINTS (Bloomberg Estimates):

  • 11am: Fed to purchase $1b-$1.25b TIPS in 2018-2043 sector
  • 11:30am: U.S. to sell $28b 3M bills, $26b 6M bills
  • 12:40pm: Fed’s Lockhart speaks in Atlanta
  • 2pm: Monthly Budget Statement, Dec. est. +$44b (pr -$135.2b)

GOVERNMENT:

    • House, Senate in session
    • Senate resumes consideration of unemployment insurance extension, 2pm
    • Supreme Court hears arguments on whether President’s recess-appointment power may be exercised during recess that occurs within session of Senate, 10am
    • Secretary of State John Kerry, Russian Foreign Minister Sergei Lavrov meet in Paris to discuss Iran’s participation in Syrian peace talks to take place Jan 22

WHAT TO WATCH:

  • Fed said to probe banks over roles in forex fixing
  • Amec agrees to buy Foster Wheeler for $3.2b in cash, stock
  • Target’s delay in revealing breach was necessary, CEO tells CNBC
  • Basel Committee makes concessions to banks on debt-limit rules
  • Honeywell probed by U.S. on F-35 fighter part made in China
  • UBS isn’t considering investment-bank spinoff
  • Sanofi pays Alnylam $700m to add rare disease drugs
  • Discovery Communications, Scripps end merger talks: WSJ
  • U.S. automobile industry growth is leveling off, Toyota says
  • BlackRock’s Bolton faces Italy proceeding over Saipem trade
  • North American International Auto Show begins in Detroit
  • JPMorgan health-care conference begins; THOR, THC present
  • ICR XChange retail, consumer conference begins in Fla.
  • Alcatel said to hold talks with Unify on enterprise unit sale
  • Court in EnPro case sets liability obligation amt at $125m

EARNINGS:

    • Limoneira (LMNR) 7am, $0.08
    • Xyratex (XRTX) 8am, $0.12

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Indonesia Bans Ore Exports in Compromise Push for Metal Smelting
  • China Said to Weigh Higher Food Imports in Security Shift
  • Bullish Bets Fell Most in Seven Weeks Before Slump: Commodities
  • Nickel Touches a Two-Week High as Indonesia Bars Ore Exports
  • WTI Declines After Weekly Loss; Iran Nuclear Deal to Take Effect
  • Sugar Extend Gains After Speculators Boost Bearish Bets by 19%
  • Gold Trades Near One-Month High as Investors Weigh Fed Stimulus
  • Corn Weekly Reversal Signals Rebound to Highest Since September
  • Rebar Falls as Steelmaker Shagang Cuts Prices on Weaker Demand
  • Philippines Sees Nickel Boon on Indonesia’s Ban: Southeast Asia
  • Iran Oil-Export Capacity Falls 5.4% in Tanker-Tracking Signals
  • American Cold Snap May Force EU Heating Oil Imports: Bear Case
  • Hedge Fund Bullish Oil Wagers Drop as Fuel Supply Gains: Energy
  • Wheat Rises as Egypt Purchase Indicates Demand for U.S. Supplies

THE HEDGEYE DAILY OUTLOOK - 5

 

CURRENCIES

 

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GLOBAL PERFORMANCE

 

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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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