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
EQUITY SENTIMENT:
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
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team