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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

THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

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

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