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THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – February 6, 2014


As we look at today's setup for the S&P 500, the range is 37 points or 0.84% downside to 1737 and 1.28% upside to 1774.                

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: 2.36 from 2.36
  • VIX  closed at 19.95 1 day percent change of 4.40%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: RBC Consumer Outlook Index, Feb. (prior 51.5)
  • 7:30am: Challenger Job Cuts, y/y, Jan. (prior -5.9%)
  • 8:30am: Trade Balance, Dec., est. -$36b (prior -$34.3b)
  • 8:30am: Nonfarm Productivity, 4Q preliminary, est. 2.8%
  • 8:30am: Initial Jobless Claims, Feb. 1, est. 335k (pr 348k)
  • 9:45am: Bloomberg Consumer Comfort, Feb. 2 (prior -31.8)
  • 10am: Fed’s Tarullo Senate testimony on financial stability
  • 10am: Freddie Mac mortgage rates
  • 10:30am: DOE Energy Inventories
  • 5:30pm: Fed’s Rosengren speaks in Sarasota, Fla.

GOVERNMENT:

    • 9:30am House Oversight and Govt Reform Cmte hearing on IRS targeting investigation
    • 10am: Fed’s  Daniel Tarullo testifies before Senate Banking Cmte’s “Oversight of Financial Stability and Data Security"; w/Treasury Under Sec. Mary Miller; FDIC Chairman Martin Gruenberg; Comptroller of the Currency Tom Curry; SEC Chairwoman Mary Jo White; Acting CFTC Chairman Mark Wetjen

WHAT TO WATCH:

  • Coca-Cola to buy 10% stake in Green Mountain for $1.25b
  • Twitter’s easy growth stalls as CEO vows to address slowdown
  • Jan. retail sales seen hurt by clearance, weather
  • Sony sees full-yr loss; plans job cuts, sale of PC business
  • Disney’s profit tops ests. as "Frozen" heats up box office
  • Apple removes Bitcoin program Blockchain from app store
  • SoftBank said to seek decision on T-Mobile bid within wks
  • Buyout firms CVC to Carlyle said to weigh bid for Deoleo
  • Credit Suisse 4Q profit misses ests. on legal provisions
  • GM adds Nissan-built cargo van to take on Ford Transit Connect
  • U.S. said near deal with EU on reprieve for swap-trading rules
  • IBM to spend $100m to bring Watson technology to Africa
  • Ford to cut third of Australia plant jobs as demand declines
  • Amazon buys video game developer Double Helix: Re/code

AM EARNS:

    • Advance Auto Parts (AAP), 8:30am, $0.81
    • Aetna (AET), 6am, $1.36
    • AOL (AOL), 7am, $0.61 - Preview
    • Apollo Investment (AINV), 7:30am, $0.21
    • Carlisle (CSL), 6am, $0.87
    • Cummins (CMI), 7:30am, $1.97 - Preview
    • Diamond Offshore Drilling (DO), 6am, $0.81 - Preview
    • Dunkin’ Brands Group (DNKN), 6am, $0.40
    • Exelon (EXC), 7:30am, $0.54
    • Flowers Foods (FLO), 6am, $0.19
    • Fortis (FTS CN), 7am, C$0.48
    • Gartner (IT), 7am, $0.69
    • General Motors (GM), 7:30am, $0.87 - Preview
    • Graphic Packaging Holding (GPK), 7:30am, $0.10
    • Kellogg (K), 8am, $0.82 - Preview
    • KKR (KKR), 8am, $0.89
    • Monster Worldwide (MWW), 7:30am, $0.11
    • New Gold (NGD CN) 7:30am, $0.04 - Preview
    • New York Times (NYT), 8:30am, $0.16
    • Nu Skin Enterprises (NUS), 7:30am, $2.01
    • Och-Ziff Capital Mgmt (OZM), 7:30am, $0.83
    • Patterson-UTI Energy (PTEN), 6am, $0.22
    • Perrigo (PRGO), 7:42am, $1.60
    • Philip Morris International (PM), 6:59am, $1.37 - Preview
    • PPL (PPL), 7am, $0.50
    • Sally Beauty Holdings (SBH), 7:30am, $0.36
    • Saputo (SAP CN) 11:59am, C$0.74
    • Sealed Air (SEE), 7:30am, $0.37
    • Shoppers Drug Mart (SC CN) 7:45am, C$0.86
    • Sigma-Aldrich (SIAL), 7am, $1.01
    • Snap-on (SNA), 7am, $1.56
    • Spirit Aerosystems Holdings (SPR), 7:30am, $0.65
    • Teradata (TDC), 6:55am, $0.85
    • Teva Pharmaceutical Industries (TEVA), 7am, $1.40 - Preview
    • Towers Watson (TW), 6am, $1.33
    • Twenty-First Century Fox (FOXA), 8am, $0.33 - Preview
    • USG (USG), 8:30am, $0.10 - Preview
    • Wisconsin Energy (WEC), 7am, $0.59

PM EARNS:

    • Activision Blizzard (ATVI), 4:05pm, $0.73
    • Expedia (EXPE), 4pm, $0.85 - Preview
    • Fifth Street Finance (FSC), 4:37pm, $0.25
    • FMC Technologies (FTI), 4pm, $0.65
    • Genpact(G), 4pm, $0.26
    • LinkedIn (LNKD), 4:05pm, $0.38 - Preview
    • Lions Gate Entertainment (LGF), 4pm, $0.47
    • NCR (NCR), 4:02pm, $0.79
    • Neurocrine Biosciences (NBIX), 4:02pm, ($0.17)
    • News (NWSA), 4:05pm, $0.19
    • Noble Energy (NBL), 5pm, $0.59
    • ON Semiconductor (ONNN), 4:05pm, $0.14
    • Republic Services (RSG), 4:05pm, $0.46
    • Tempur Sealy (TPX), 4:03pm, $0.62
    • Ubiquiti Networks (UBNT), 4:05pm, $0.45
    • VeriSign (VRSN), 4:05pm, $0.60

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Crude Rises a Third Day as U.S. Chill Erodes Fuel Stockpiles
  • Cotton Crop in Australia Declining to Three-Year Low on Drought
  • Virus Killing 5 Million Pigs Spurs Hog-Price Rally: Commodities
  • U.S. Natural Gas Rises as Inventories Seen Declining on Weather
  • Nickel Rises Amid Speculation Stainless Steel Will Fuel Demand
  • Gold Reversal May Signal Lows for U.S. Stocks: Chart of the Day
  • Wheat Trades Near Highest in Three Weeks Amid Signs of Demand
  • Arabica Coffee Falls First Time in 8 Days; Sugar Little Changed
  • Japan Turns to U.S. Wheat Amid Delays in Shipments From Canada
  • Rice Farmers in Thailand Urge Stockpile Sales to Meet Payments
  • World Food Prices Drop to 19-Month Low as Sugar to Grains Slide
  • Tightly Knit Europe Gas Grid Matches Local Need With Global Feed
  • Oman’s $3 Billion Railroad Plan to Blunt Iran Oil Risk: Freight
  • Gold Holds Below 1-Week High as Silver Extends Best Run in Month

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