THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – February 7, 2014


As we look at today's setup for the S&P 500, the range is 61 points or 2.05% downside to 1737 and 1.39% upside to 1798.                          

                                                                                                     

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: 2.39 from 2.38
  • VIX  closed at 17.23 1 day percent change of -13.63%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Nonfarm Payrolls, Jan., est. 180k (prior 74k)
  • 1pm: Baker Hughes rig count
  • 3pm: Consumer Credit, Dec., est. $12b (prior $12.318b)
  • 3:30pm: CFTC Commitments of Traders report

GOVERNMENT:

    • U.S. Treasury Sec. Jack Lew may consider taking ‘‘extraordinary measures’’ to avoid reaching borrowing limit after Congress failed to agree on debt ceiling boost

WHAT TO WATCH:

  • Payrolls in U.S. probably expanded at a faster pace in January
  • Baytex Energy to buy Aurora Oil to add shale production
  • LinkedIn drops after sales forecast trails analyst estimates
  • News Corp. profit tops estimates even as ad revenue declines
  • IBM considering sale of semiconductor business: FT
  • Bank of England staff said to have condoned FX trader conduct
  • U.K. industry output rises less than forecast as momentum eases
  • ArcelorMittal sees 2014 profit rising as steel demand rebounds
  • German top court sends suit against ECB’s OMT to EU top court
  • Ukraine imposes capital control as president heads for Sochi
  • Time’s $1.3b debt to “keep private equity away": N.Y. Post
  • Yellen Testifies, U.S. Retail Sales, BOE: Week Ahead Feb. 8-15

EARNINGS:

    • American Axle & Manufacturing (AXL) 8am, $0.49
    • Cameco (CCO CN), C$0.53, post-mkt
    • CBOE Holdings (CBOE) 7:30am, $0.48
    • Cigna (CI) 6am, $1.49
    • Domtar (UFS) 7:30am, $1.53
    • FLIR Systems (FLIR) 7:30am, $0.37
    • Laboratory of America (LH) 6:45am, $1.66
    • Madison Square Garden (MSG) 7:30am, $0.65
    • Moody’s (MCO) 7am, $0.76
    • Sirona Dental Systems (SIRO) 6:30am, $0.92
    • Wyndham Worldwide (WYN) 6:29am, $0.73 - Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Copper Advances for a Second Day Before U.S. Employment Report
  • Cocoa Harvest in Indonesia May Drop to Lowest in Decade on Rain
  • Natural Gas Falls for Third Day as Weaker Winter Storms Forecast
  • Brazil Raw-Sugar Discount Spurs White Output as Refiners Profit
  • Gold Poised for Weekly Advance Before U.S. Data as China Returns
  • Wheat Heads for Best Week Since September After U.S. Freeze
  • Coffee Tumbles Amid Potential Rain for Brazil; Sugar Declines
  • Solar Water Pumps Wean Indian Farmers From Archaic Grid: Energy
  • AMCI Seeks Coal, Iron Ore Assets as ‘Super-Cycle’ Seen Intact
  • Rebar Extends Drop to Two-Week Low as China Returns From Holiday
  • Mitsubishi UFJ Securities to Withdraw From Commodities Business
  • Sugar Traders Most Bullish Since March Amid Brazil Dry Weather
  • New Supply Additions, China Drive Iron Ore, Coal: 2014 Outlook
  • WTI Drops for First Time in Four Days on U.S. Jobs Report, China

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

 

 

 

 

 

 

 

 

 

 

 

 

 



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