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TODAY’S S&P 500 SET-UP – February 4, 2014


As we look at today's setup for the S&P 500, the range is 48 points or 0.40% downside to 1735 and 2.36% upside to 1783.                

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: 2.30 from 2.28
  • VIX closed at 21.44 1 day percent change of 16.46%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:45/8:55am: ICSC/Redbook weekly retail sales
  • 9:45am: ISM New York, Jan. (prior 63.8)
  • 10am: Factory Orders, Dec., est. -1.8% (prior 1.8%)
  • 10am: IBD/TIPP Economic Optimism, Feb., est. 44.5 (pr 45.2)
  • 10am: CBO releases U.S. economic outlook
  • 8:30am: Fed’s Lacker speaks in Winchester, Va.
  • 12:30pm: Fed’s Evans speaks in Detroit
  • 4:30pm: API weekly oil inventories

GOVERNMENT:

    • 10am: CBO releases U.S. economic outlook
    • 10am: Sen. Homeland Security Army recruiting contract hearing
    • 10am: Senate environmental panel on water supply safety post-W. Va. contamination
    • 10:15am TGT CFO John Mulligan at Senate Judiciary Cmte
    • 10:30am: Moody’s Chief Economist Mark Zandi on 2014 outlook at Senate Budget Cmte
    • 1:30pm: House Oversight and Govt Reform Cmte hearing on Obama admin marijuana policy

WHAT TO WATCH:

  • Yum profit beats ests. on growth in international division
  • Intel changes pay rules in seeking closer ties to performance
  • Symantec says facing $145m in damages in U.S. probe
  • TV shared ownership led by Sinclair said to get U.S. scrutiny
  • Second storm of week bound for U.S. Northeast with icy snowfall
  • BP 4Q profit drops as disposals hurt oil output
  • UBS 4Q net beats estimates on wealth management, tax gain
  • Toyota forecasts record annual profit as yen boosts exports
  • BofA bonuses for rates traders are said to drop at least 15%
  • Genfit seeks U.S. alliance for non-alcoholic liver ailment
  • Drug cos. join NIH in study of Alzheimer’s, other diseases: WSJ
  • House GOP said to finalize debt-limit strategy: WPost
  • Lockheed Martin to begin production of civilian Hercules: WSJ
  • Anadarko fails to find viable oil at first N.Z. well: TV3

AM EARNS:

    • Affiliated Managers Group (AMG) 7:10am, $3.09
    • AGCO (AGCO) 8am, $1.34
    • AGL Resources (GAS) 8am, $0.91
    • Arch Coal (ACI) 7:30am, ($0.38) - Preview
    • Archer-Daniels-Midland Co (ADM) 7am, $0.84
    • Becton Dickinson (BDX) 6am, $1.29
    • Bell Aliant (BA CN) 6am, $0.35
    • Boston Scientific (BSX) 7am, $0.13 - Preview
    • Clorox (CLX) 830am, $0.91 - Preview
    • CME Group (CME) 7am, $0.67
    • Delphi Automotive PLC (DLPH) 7am, $1.04
    • Eaton (ETN) 6:30am, $1.06
    • Emerson Electric (EMR) 6:30am, $0.67 - Preview
    • Fidelity National Information (FIS) 7am, $0.78
    • Gannett Co (GCI) 830am, $0.65
    • HCA Holdings (HCA) 8:29am, $0.86 - Preview
    • IDEXX Laboratories (IDXX) 7am, $0.81
    • International Paper Co (IP) 7am, $0.86
    • McGraw Hill Financial (MHFI) 7:10am, $0.79
    • Michael Kors Holdings (KORS) 7am, $0.86 - Preview
    • Ryder System (R) 7:55am, $1.29
    • Sensata Technologies (ST) 6am, $0.55
    • Sirius XM Holdings (SIRI) 7am, $0.02
    • Spectra Energy (SE) 6:30am, $0.38
    • UDR (UDR) 8am, ($0.01)
    • Vishay Intertechnology (VSH) 7:30am, $0.19
    • Westjet Airlines (WJA CN) 6:30am, $0.52 - Preview
    • Xylem (XYL) 7am, $0.52

PM EARNS:

    • Aflac (AFL) 4:15pm, $1.39
    • Ameriprise Financial (AMP) 4:05pm, $1.81
    • Axis Capital Holdings (AXS) 4:05pm, $1.47
    • Cerner (CERN) 4:01pm, $0.39 - Preview
    • CH Robinson Worldwide (CHRW) 4:15pm, $0.68
    • Covance (CVD) 4:01pm, $0.84
    • Genworth Financial (GNW) 4:30pm, $0.30
    • Gilead Sciences (GILD) 4:05pm, $0.51 - Preview
    • Hain Celestial (HAIN) 4pm, $0.87
    • Macerich (MAC) 4:30pm, $0.23
    • Mueller Water Products (MWA) 4:20pm, $0.00
    • Myriad Genetics (MYGN) 4:05pm, $0.46 - Preview
    • RenaissanceRe Holdings (RNR) 4:16pm, $2.78

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Crude Rises From One-Week Low Amid Cushing Pipeline Start
  • Gold Declines in London on Signs Physical Demand Is Slowing
  • Arabica Coffee Posts Biggest Gain Since 2004 on Brazil Drought
  • Cotton Crop Expanding After Corn Slump Spurs Switch: Commodities
  • Lead Paces Gains by Metals Amid Speculation Decline Was Overdone
  • Soybeans Extend Gain on Concerns Brazil Dryness May Curb Yields
  • Natural Gas Rebounds as Winter Storm Spreads in U.S. Northeast
  • Rubber Declines to 17-Month Low as U.S. Factory Growth Slows
  • Krung Thai Bank Won’t Lend to Government Rice Program: President
  • Platinum Mine Strike Costs $36 Million a Day as Talks Resume
  • Commodity Volatility Drops as Equities Swing: Chart of the Day
  • Fukushima Wash-Up Fears in U.S. Belie Radiation Risks: Energy
  • Senators to Vote on Farm Law That Keeps Their Benefits Secret
  • Robusta Coffee Rises to 5-Month High on Lack of Vietnam Selling

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