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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

THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

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

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