TODAY’S S&P 500 SET-UP – January 30, 2014
As we look at today's setup for the S&P 500, the range is 27 points or 0.97% downside to 1757 and 0.55% upside to 1784.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 2.34 from 2.33
- VIX closed at 17.35 1 day percent change of 9.81%
MACRO DATA POINTS (Bloomberg Estimates):
- 8:30am: Init Jobless Claims, Jan. 25, est. 330k (prior 326k)
- 8:30am: GDP Annualized q/q, 4Q Advance, est. 3.2% (pr 4.1%)
- 9:45am: Bloomberg Consumer Comfort, Jan. 26 (prior -31.0)
- 10am: Pending Home Sales m/m, Dec., est. -0.3% (prior 0.2%)
- 10am: Freddie Mac mortgage rates
- 10:30am: EIA natural-gas storage change
GOVERNMENT:
- 9:30am: Senate Energy and Natural Resources Cmte meets on whether to end ban on U.S. crude oil exports
- 12:20pm: Obama delivers remarks at GE’s Waukesha Gas Engines plant in Wis.
- 4:15pm: Sen. John McCain, R-Ariz.; Sen. Chris Murphy, D-Conn., speak at CSIS on trans-Atlantic ties
- 4:50pm: Obama in Tenn. for economic opportunity speech
WHAT TO WATCH:
- 4Q U.S. growth probably boosted by stronger spending
- Facebook mobile push fuels bulk of sales to top ests.
- Lenovo to buy Google’s Motorola Mobility for $2.91b
- Google Motorola sale shows limits of Microsoft-Nokia strategy
- Google’s Motorola sale underscores primacy of patent portfolio
- Dassault Systemes offers $750m to acquire Accelrys
- Starbucks CEO Schultz hands daily operations to CFO Alstead
- China’s manufacturing shows first contraction in 6 months
- German joblessness falls more than forecast as economy grows
- Euro-area eco. confidence rises for 9th month on services
- Qualcomm’s profit tops analysts’ ests. on smartphone demand
- Ericsson CEO plans to stay amid interest from Microsoft
- Shell CEO pledges spending cuts, asset sales to restore profit
- Samsung sanctioned by U.S. judge in Apple patent lawsuit
- J&J becomes first drugmaker to open clinical data to academics
- Soros-backed OneWest said to seek buyers as prepares for IPO
- Deutsche Bank suspends NY head of emerging FX trading: Reuters
AM EARNS:
- 3M Co (MMM) 7:30am, $1.62 - Preview
- ADT (ADT) 6am, $0.49
- Airgas (ARG) 7:30am, $1.18
- Alexion Pharmaceuticals (ALXN) 6:30am, $0.84
- Altria Group (MO) 6:58am, $0.58 - Preview
- AutoNation (AN) 6:15am, $0.76
- Ball (BLL) 6am, $0.73
- Bemis Co (BMS) 7am, $0.54
- Blackstone Group LP (BX) 7am, $0.83
- Brunswick (BC) 7:39am, $0.13
- Cameron International (CAM) 7:30am, $0.96 - Preview
- Cardinal Health (CAH) 7am, $0.84 - Preview
- Celgene (CELG) 7:30am, $1.51 - Preview
- CMS Energy (CMS) 7:30am, $0.37
- Colgate-Palmolive Co (CL) 7am, $0.74 - Preview
- ConocoPhillips (COP) 7am, $1.32 - Preview
- Dover (DOV) 7am, $1.27
- Eli Lilly & Co (LLY) 6:30am, $0.73 - Preview
- Enterprise Products Partners L (EPD) 6am, $0.71
- Exxon Mobil (XOM) 8am, $1.91 - Preview
- Franklin Resources (BEN) 8:30am, $0.93
- Harley-Davidson (HOG) 7am, $0.33
- Harman International Industrie (HAR) 7am, $0.94
- Helmerich & Payne (HP) 6am, $1.46 - Preview
- Hershey (HSY) 6:58am, $0.86
- Hillshire Brands Co (HSH) 7:30am, $0.50 - Preview
- Imperial Oil (IMO CN) 7:55am, $0.93 - Preview
- Invesco (IVZ) 7:30am, $0.57
- L-3 Communications Holdings In (LLL) 7am, $1.98
- Manpowergroup (MAN) 7:30am, $1.25
- Northrop Grumman (NOC) 7am, $1.94 - Preview
- Occidental Petroleum (OXY) 7:30am, $1.67 - Preview
- Peabody Energy (BTU) 8am, ($0.10)
- Pitney Bowes (PBI) 6:30am, $0.45
- Potash of Saskatchewan (POT CN) 6am, $0.32 - Preview
- PulteGroup (PHM) 6:30am, $0.45 - Preview
- Quest Diagnostics (DGX) 7am, $0.93 - Preview
- Raytheon Co (RTN) 7am, $1.35 - Preview
- Royal Gold (RGLD) 8am, $0.23
- Sherwin-Williams (SHW) 7am, $1.29
- TECO Energy (TE) 7:30am, $0.20
- Thermo Fisher Scientific (TMO) 6am, $1.38 - Preview
- Time Warner Cable (TWC) 6am, $1.73 - Preview
- Timken Co (TKR) 7:30am, $0.73
- Under Armour (UA) 7am, $0.53 - Preview
- United Parcel Service (UPS) 7:45am, $1.25
- Valley National Bancorp (VLY) 7am, $0.14
- Viacom (VIAB) 6:45am, $1.16 - Preview
- Visa (V) 7:30am, $2.16 - Preview
- Whirlpool (WHR) 6am, $3.03
- Xcel Energy (XEL) 6am, $0.29
- Zimmer Holdings (ZMH) 7am, $1.62 - Preview
PM EARNS:
- Align Technology (ALGN) 4pm, $0.43
- Amazon.com (AMZN) 4pm, $0.69 - Preview
- Broadcom (BRCM) 4:05pm, $0.58
- Canadian National Railway Co (CNR CN) 4:01pm, $0.77 -Preview
- Canadian Oil Sands (COS CN) 5:01pm, $0.48 - Preview
- Celestica (CLS CN) 4pm, $0.23
- Chipotle Mexican Grill (CMG) 4:01pm, $2.52
- Chubb (CB) 4:03pm, $2.04
- CNH Industrial NV (CNHI) 4:44pm, $0.24
- Computer Sciences (CSC) 4:15pm, $0.83
- CR Bard (BCR) 4:05pm, $1.39
- Eastman Chemical Co (EMN) 4:36pm , $1.24
- Google (GOOG) 4:01pm, $12.26 - Preview
- JDS Uniphase (JDSU) 4:05pm, $0.14
- Manitowoc (MTW) 4:25pm, $0.33
- McKesson (MCK) 4:10pm, $1.84 - Preview
- Microchip Technology (MCHP) 4:15pm, $0.61
- NetSuite (N) 4:05pm, $0.07
- PerkinElmer (PKI) 4:05pm, $0.70
- PMC - Sierra (PMCS) 4:05pm, $0.08
- Riverbed Technology (RVBD) 4:05pm, $0.31
- Robert Half International (RHI) 4pm, $0.48
- Validus Holdings (VR) 4:15pm, $1.56
- Wynn Resorts (WYNN) 4:05pm, $1.75
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Aluminum Touches Four-Year Low as China Manufacturing Contracts
- Barclays’s Asia-Pacific Markets Business Said to Lose Eight MDs
- Goldman Sees Gold to Corn Losses After Bear Markets: Commodities
- Gold Horses Lead Chinese Retailers to Profit on Bullion’s Slump
- WTI Rises to Four-Week High as U.S. Chill Boosts Fuel Demand
- Gold Falls on Stimulus, Demand Outlook as Monthly Gain Narrows
- Wheat Recovers From 42-Month Low on Speculation Demand to Build
- Sugar Rebounds as India Fails to Discuss Subsidies; Coffee Gains
- Rubber Near 16-Month Low as Yen Gains After Fed Cuts Bond Buying
- Rebar Caps Worst Monthly Drop in Four on Iron Ore, China Holiday
- Bird Flu Seen by Zhongda Futures Curbing Soybean Demand in China
- Oil, Mining Stocks Face Emerging-Currency Risk: Chart of the Day
- Capital May Shift Toward Gas as Prices Top $5 on Polar Vortexes
- Natural Gas Poised for Biggest Monthly Gain Since 2009
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
