THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – January 24, 2014


As we look at today's setup for the S&P 500, the range is 28 points or 0.03% downside to 1828 and 1.51% upside to 1856.                           

                                                                                                    

SECTOR PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 1

*Levels  as of 1/23/14

 

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.40 from 2.42
  • VIX closed at 13.77 1 day percent change of 7.24%

MACRO DATA POINTS (Bloomberg Estimates):

  • No major data releases
  • 7:05am: BoE’s Carney speaks at Davos
  • 12pm: ECB’s Draghi speaks at Davos
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • Sec. of State John Kerry attends talks on Syria in Montreux
    • Treasury Sec. Jack Lew, Commerce Sec. Penny Pritzker attend Davos
    • House not in session, Senate meets in pro forma session
    • 10:30am Chairman Reince Priebus addresses Republican National Cmte winter meeting
    • 11:30am Homeland Security Sec. Jeh Johnson speaks at U.S. Conference of Mayors winter meeting
    • 1:30pm Gov. Rick Snyder, R-Mich.; former NYC Mayor/Bloomberg LP founder Michael Bloomberg discuss economic case for immigration reform

WHAT TO WATCH:

  • Samsung profit growth slows as iPhones win sales, won gains
  • Ziggo says talks to be taken over by Liberty making progress
  • Starbucks sales trail estimates as U.S. growth decelerates
  • McKesson to purchase Celesio in deal after earlier offer failed
  • China bank regulator said to issue alert on coal mine loans
  • Qualcomm acquires patents from Hewlett-Packard, including Palm
  • JPMorgan’s Jamie Dimon said to get increased compensation: NYT
  • Morgan Stanley gives Gorman $5.06m of shares for 2013
  • Jana partners takes big stake in Juniper: Reuters
  • Goldman may ban some person-to-person instant messaging: WSJ
  • BofA may buy own stake held by Korea Investment Corp: Maeil
  • Boeing to give ANA order discounts as 787 compensation: Nikkei
  • CNN says some of its social media accounts were compromised
  • AT&T unlikely to bid for Vodafone in near-term, Oriel says
  • U.S. says no leeway in Iran oil exports based on inflated data
  • FOMC, Yellen, Obama’s address, Egypt: Week Ahead Jan. 25-Feb. 1

EARNINGS:

    • Bristol-Myers Squibb Co (BMY) 7:30am, $0.43  - Preview
    • Covidien PLC (COV) 6am, $0.94  - Preview
    • First Niagara Financial Group (FNFG) 7:15am, $0.20
    • Honeywell International (HON) 7am, $1.21 - Preview
    • Kansas City Southern (KSU) 8am, $1.10
    • Kimberly-Clark (KMB) 7:30am, $1.39  - Preview
    • Procter & Gamble Co/The (PG) 7am, $1.20 - Preview
    • Stanley Black & Decker (SWK) 6am, $1.30
    • State Street (STT) 7:30am, $1.19  - Preview
    • WW Grainger (GWW) 8am, $2.62  - Preview
    • Xerox (XRX) 7am, $0.29

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Natural Gas Set for Biggest Weekly Gain Since 2012 on U.S. Cold
  • Brent Slumps as Premium to WTI Narrows to Least in Two Months
  • Big Data From U.S. Cornfields Spurs Farmer Concerns: Commodities
  • Copper Trades Near One-Month Low Amid China Credit-Risk Concern
  • Wheat Snaps Seven-Week Slump as Freezing U.S. May Harm Crops
  • Gold Extends Gains in London, Rising to Highest Since November
  • Libya Oil Growth Crimped as Gunmen Block Eastern Port Hariga
  • Cocoa Advances as Lower Reserves Add to Shortage; Coffee Falls
  • Rebar Rises for First Week in Seven After China Money Rates Drop
  • Platinum Talks Today Will Seek End to Pay Strike Crippling Mines
  • Colder Weather Forecast for U.S. as Freeze Brings Texas Ice
  • Vitol to Trafigura Chasing U.S. NGLs as Traders Cash In: Energy
  • Curtailment, Trucks, Contracts Are Aluminum Themes: 2014 Outlook
  • Super Bowl Fans Eat 1.25 Billion Wings as Corn Crop Lowers Costs

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

 

 

 

 

 

 

 

 

 

 

 

 

 


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