TODAY’S S&P 500 SET-UP – February 10, 2014
As we look at today's setup for the S&P 500, the range is 75 points or 3.45% downside to 1735 and 0.72% upside to 1810.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 2.37 from 2.38
- VIX closed at 15.29 1 day percent change of -11.26%
MACRO DATA POINTS (Bloomberg Estimates):
- 12pm: Wasde commodities reports
- U.S. Rates Weekly Agenda
- FX Weekly Agenda
GOVERNMENT:
- President Obama meets with French President Hollande; to discuss U.S.-French business ties, proposed U.S.-EU free-trade agreement
- House Transportation and Infrastructure Cmte holds field hearing in Charlestown, W.Va., on Elk River chemical spill
- 10am: CFTC’s Technology Advisory Cmte holds public meeting focused on swap data reporting; CFTC’s concept release on automated trading; swap execution facilities
- 2pm: House Energy and Commerce panel holds hearing on drug shortages, with GAO Healthcare Director Marcia Crosse
- 2:30pm: House Transportation and Infrastructure panel holds roundtable discussion on public-private partnerships
- Geneva II peace talks and negotiations continue after the Jan 22 Conference; members of President Bashar al-Assad’s government and rebels are expected to resume talks in Geneva
WHAT TO WATCH:
- L’Oreal jumps as Nestle said to seek ways to reduce 29% stake
- James River Coal hires Perella Weinberg, may sell itself
- PBOC signals money-mkt volatility; China seeks to tame debt
- Hudbay makes offer to acquire Augusta Resources
- Intl Forest Products to acquire Tolleson Lumber for $180m
- Japan’s Dec. current-account deficit widens to record
- Forbes sale nears; Spice Grp, Fosun said to plan final bids
- Mandel tops best-earning hedge funds for second year
- AIG eyes acquisitions in Asia, Latin America: Figaro
- Barclays examining possible data theft from 27,000 customers
- China regulator said to order smaller banks to set aside funds
- Chinese regulator said to seek JPMorgan job for friend: NYT
- Swiss brace for sour EU relations on anti-immigration vote
AM EARNS:
- Boardwalk Pipeline (BWP) 6am, $0.31
- CNA Financial (CNA) 6am, $0.85
- Emera (EMA CN) Bef-mkt, C$0.42
- Hasbro (HAS) 6:30am, $1.22 - Preview
- Mercury General (MCY) 8:30am, $0.53
PM EARNS:
- Albany International (AIN) 5pm, $0.35
- American Capital (ACAS) 4pm, $0.24
- Amkor Technology (AMKR) 4:07pm, $0.14
- Compass Minerals International (CMP) 4:15pm, $1.77
- CYS Investments (CYS) 4:01pm, $0.35
- Flotek Industries (FTK) 4:15pm, $0.17
- Forward Air (FWRD) 4:05pm, $0.56
- Highwoods Properties (HIW) Aft-mkt, $0.73
- KapStone Paper and Packaging (KS) 4:15pm, $0.48
- Loews (L) 4:15pm, $0.70
- Masco (MAS) 5:09pm, $0.16
- Molina Healthcare (MOH) 4pm, $(0.19)
- Nuance Communications (NUAN) 4pm, $0.23
- Owens & Minor (OMI) 5pm, $0.50
- Pioneer Natural Resources (PXD) 4:01pm, $0.98
- Primerica (PRI) 4:02pm, $0.79
- Rackspace Hosting (RAX) 4pm, $0.14
- Regal-Beloit (RBC) 5:17pm, $0.84
- Sensient Technologies (SXT) 4:24pm, $0.63
- Toromont Industries (TIH CN) Aft-mkt, C$0.52
- Waste Connections (WCN) 4:05pm, $0.43
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Gold Demand in China Surges to Record as Bear Market Spurs Sales
- Rubber Inventories in Producing Countries to Drop on Drought
- Coffee to Soybean Wagers Climb on Brazilian Drought: Commodities
- Aluminum Faces Deficit in 2015 on Cutbacks, Sumitomo Says
- Brent Slips After Biggest Gain in Three Months Amid Libya Return
- Nickel Climbs Amid Speculation Ore-Export Ban Will Lift Prices
- Gold Gains to Two-Week High on U.S. Jobs as China Resumes Buying
- Wheat Falls Third Day Before USDA Report as Supply Seen Ample
- Sugar Drops 3rd Day in New York Before Possible India Decision
- Hedge Funds Boost Diesel Bets With Supply at Decade Low: Energy
- Rebar Declines for Second Day as Demand Weakens After Holiday
- California Ranchers Missing Beef Rally in Bid to Survive Drought
- Cheap Shale Gas Allows U.S. Refiners to Displace EU in LatAm
- Tin Exports From Indonesia Slump to Three-Month Low in January
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team