THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – January 17, 2014


As we look at today's setup for the S&P 500, the range is 18 points or 0.48% downside to 1837 and 0.49% upside to 1855.                                         

SECTOR PERFORMANCE

THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2A

 

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.46 from 2.46
  • VIX closed at 12.53 1 day percent change of 2.04%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Housing Starts, Dec., est. 990k (prior 1.091m)
  • 9:15am: Industrial Prod. m/m, Dec., est. 0.3% (prior 1.1%)
  • 9:55am: UMich Conf, Jan. prelim, est. 83.5 (prior 82.5)
  • 10am: JOLTs Job Openings, Nov., est. 3.930m (pr 3.925m)
  • 12:30pm: Fed’s Lacker speaks in Richmond, Va.
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • 8am: Sec. of State John Kerry hosts Canadian Foreign Minister John Baird, Mexican Foreign Secretary Jose Antonio Meade for North American Ministerial discussions
    • 9:30am: HHS Sec. Kathleen Sebelius; WH Domestic Policy Council Director Cecilia Munoz; Acting Surgeon General Boris Lushniak; CDC Director Tom Frieden release report on smoking
    • 9:30am: Federal appeals court reviews legality of Fed debt interchange regulations
    • 11am: President Obama delivers speech on spy programs, national security
    • 1pm: Rep. Frank Wolf, R-Va., of House Appropriations Cmte’s Commerce, Justice, Science, and Related Agencies sbcmte, holds news conference on provisions in Omnibus Appropriations bill

WHAT TO WATCH:

  • China Mobile started selling Apple’s iPhone today
  • Spending bill’s passage sets stage for U.S. debt limit showdown
  • Canada urging U.S. Keystone pipeline decision
  • Shell profit slumps amid weak refining, losses in Americas
  • Nintendo forecasts net loss as Wii U, game sales stagnate
  • KKR, Permira sell ProSiebenSat.1 shares at EU34.75 apiece
  • J&J-Bayer fail to win U.S. panel vote for wider Xarelto use
  • Regeneron says Bayer barred from buying more than 20% stake
  • Sprint has proposals from banks on T-Mobile financing bid: WSJ
  • Cerberus to sell Kokusai Kogyo stake for $1.25b-$1.34b: Reuters
  • Moelis said to file IPO under jobs act as early as Friday: FT
  • Sysco-US Foods deal to be reviewed by Florida, other states: Reuters
  • EU weighs ban on proprietary trading at biggest banks from 2018
  • ICBC rebuffs call to bail out $495m trust product

EARNINGS:

    • Bank of New York Mellon (BK) 6:30am, $0.54
    • Comerica (CMA) 6:40am, $0.74
    • First Horizon National (FHN) 7am, $0.17
    • General Electric Co (GE) 6:30am, $0.53 - Preview
    • M&T Bank (MTB) 8:01am, $1.91
    • Morgan Stanley (MS) 7:15am, $0.44 - Preview
    • Schlumberger (SLB) 6am, $1.32 - Preview
    • SunTrust Banks (STI) 7:15am, $0.70

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Deutsche Bank Withdraws From Gold Fixing in Commodities Cutback
  • Farmers Worldwide Suffer Extreme Weather Wreaking Food Havoc
  • Mining Companies Cutting $10 Billion Heralds Boom: Commodities
  • Nickel Falls on Speculation China Has Ample Stockpiles of Ore
  • WTI Crude Set for First Weekly Advance This Year on U.S. Economy
  • Wheat Poised to Snap Longest Losing Streak Since 2011 on Demand
  • Gold-Dollar Link Weakens on Metal Coin Demand: Chart of the Day
  • Cocoa Falls After North American Processing Data; Coffee Drops
  • Direct Nickel, Antam to Develop Process Plant in Indonesia
  • Boston Beats New York With Record Power Price Premiums: Energy
  • Copper Analysts Switch to Bullish From Neutral for Next Week
  • BTG Said to Withdraw From Auction for JPMorgan Commodities Unit
  • AsiaClear Iron Ore Swap 370% Rise Shows Surging Commodity Trade
  • Gold Heads for First Weekly Drop This Year on Stimulus Outlook

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