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TODAY’S S&P 500 SET-UP – February 25, 2014


As we look at today's setup for the S&P 500, the range is 35 points or 1.47% downside to 1818 and 0.43% upside to 1853.                

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: 2.38 from 2.39
  • VIX closed at 13.67 1 day percent change of -3.94%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, Feb. 21 (prior -4.1%)
  • 10am: New Home Sales, Jan., est. 400k (prior 414k)
  • 10:30am: DOE Energy Inventories
  • 12pm: Fed’s Rosengren speaks in Boston
  • 7:30pm: Fed’s Pianalto speaks in Wooster, Ohio

GOVERNMENT:

    • 9:30am: Senate Homeland Security panel holds hearing on offshore tax evasion by multinational cos.
    • 10am: FDIC releases Q4 report for insured institutions
    • 10am: House Financial Svcs panel meets on allegations of improper lobbying and obstruction at HUD
    • 10am: House Homeland Security Cmte hears from Homeland Security Secretary Jeh Johnson on agency priorities
    • 10am: House Oversight Cmte holds hearing on surveillance at FDA
    • 2pm: President Obama speaks on economy in St. Paul, Minn.
    • 2:30pm: Senate Armed Svcs panel hears testimony on Defense Dept IT acquisition process
    • Reid opposes wage below $10.10 as some Democrats ready to talk

WHAT TO WATCH:

  • JPMorgan, Goldman, 16 others to end some analyst surveys
  • Credit Suisse said to face SEC probe over accounting moves
  • Credit Suisse helped clients hide billions, U.S. Senate says
  • GE takes $1.7b charge in accord to end Shinsei liability
  • Morgan Stanley agrees to pay $275m to resolve SEC probe
  • BofA cuts deal with Buffett on preferred stake to boost capital
  • J. Crew said to be talking with banks about IPO later this yr
  • Facebook-WhatsApp deal risks sparking privacy probes across EU
  • AB InBev sees improving beer market trends in U.S., Brazil
  • Airbus predicts profit gain as it boosts A320 jet production
  • Mt. Gox shutdown triggers Bitcoin industry damage control
  • Trade leads U.K. economy to growth as recovery broadens
  • DreamWorks Animation tumbles as "Turbo" leads to rev. drop
  • Honda to end production of Insight hybrid as sales trail Prius
  • Delta plans major rewrite of frequent-flier rules: WSJ

AM EARNS:

    • Abercrombie & Fitch (ANF) 7am, $1.04 - Preview
    • AES (AES) 6am, $0.29
    • Ares Capital (ARCC) 8am, $0.41
    • Barnes & Noble (BKS) 8:30am, $0.51
    • Cablevision Systems (CVC) 8:30am, $0.09 - Preview
    • CenterPoint Energy (CNP) 8:15am, $0.28
    • Chesapeake Energy (CHK) 7:01am, $0.40 - Preview
    • Dollar Tree (DLTR) 7:31am, $1.05 - Preview
    • First Majestic Silver (FR CN) 7am, $0.11
    • Lowe’s (LOW) 6am, $0.31 - Preview
    • Royal Bank of Canada (RY CN) 6am, C$1.45 - Preview
    • Target (TGT) 7:30am, $1.24 - Preview
    • Taser Intl (TASR) 7:30am, $0.08
    • TJX (TJX) 8:28am, $0.83 - Preview

PM EARNS:

    • American Water Works (AWK) 4:05pm, $0.46
    • Antero Resources (AR) 4:05pm, $0.25
    • Assured Guaranty (AGO) 5:26pm, $0.65
    • Autodesk (ADSK) 4:01pm, $0.34
    • Continental Resources (CLR) 6:12pm, $1.31
    • Darling Intl (DAR) 4:30pm, $0.28
    • Gulfport Energy (GPOR) 4:05pm, $0.18
    • Halcon Resources (HK) 4:15pm, $0.05
    • Infoblox (BLOX) 4:05pm, $0.11
    • J.C. Penney (JCP) 4pm, $(0.86) - Preview
    • L Brands (LB) 4pm, $1.61
    • Nektar Therapeutics (NKTR) 4:15pm, $(0.37)
    • Pembina Pipeline (PPL CN) 4:05pm, C$0.30
    • TiVo (TIVO) 4:01pm, $0.04
    • Transocean (RIG) 4:39pm, $0.72
    • Whiting Petroleum (WLL) 4pm, $0.88
    • Workday (WDAY) 4:02pm, $(0.16)

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Crude Trades Near Week Low on U.S. Stockpiles; Brent Stable
  • Bird Flu Brings More Pain for Feed Sellers in China Hurt by Hogs
  • Soybeans Drop From Five-Month High as Global Supply Seen Ample
  • Credit Agricole Says Easy Money Shorting Gold Over as China Buys
  • Tin Reaches Four-Month High as Indonesian Exchange Sets Minimum
  • Sugar Falls as Traders Take Profit on Rain Return; Coffee Slides
  • Tin Floor Price Set by Indonesia Bourse to Help Mining Companies
  • U.S. Natural Gas Poised for Biggest Three-Day Loss Since 2007
  • Winter Warmth Seen Flooding Asia With Japanese Kerosene: Energy
  • Oil-by-Rail Disasters Prompt U.S. Crackdown on Risky Shipments
  • Investors Mount Attack on Norway in $20 Billion Oil, Gas Row
  • Singapore Bids for Asia’s LNG Hub Role With Second Terminal
  • Agrium Forecasts Higher U.S. Corn Cash Margin, Lower Soy in 2014
  • Gold Reaches 17-Week High on U.S. Data as SPDR Holdings Expand

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