• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

  • It's Coming...

    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

TODAY’S S&P 500 SET-UP – March 5, 2014


As we look at today's setup for the S&P 500, the range is 27 points or 1.38% downside to 1848 and 0.06% upside to 1875.                                          

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 2.37
  • VIX VIX closed at 14.1 1 day percent change of -11.88%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, Feb. 28 (prior -8.5%)
  • 8:15am: ADP Employment Change, Feb., est. 155k (prior 175k)
  • 8:30am: Former Fed Chairman Bernanke speaks in S. Africa
  • 10am: ISM Non-Manufacturing, Feb., est. 53.5 (prior 54)
  • 10:30am: DOE Energy Inventories
  • 2pm: Fed releases Beige Book
  • 7pm: Fed’s Fisher speaks in Mexico City
  • 8:30pm: Fed’s Williams speaks in Seattle

GOVERNMENT:

    • Republican Cornyn avoids Texas runoff w/Tea Party challenger
    • President Obama speaks at event on raising minimum wage in
    • Hartford, Conn.
    • Sec. of State John Kerry, Russian Foreign Minister Sergei Lavrov visit France
    • 9:30am: House Oversight Cmte holds hearing on IRS targeting of political group, fmr IRS official Lois Lerner slated to testify
    • 9:30am: Senate Armed Svcs Cmte hears from Defense Sec. Chuck Hagel, Joint Chiefs Chairman Martin Dempsey on auth. request
    • 10am: Senate Appropriations panel hears from Elon Musk on national security space launch programs
    • 10am: Senate Budget Cmte hears from White House Budget Director Sylvia Burwell; House Appropriations panel hears from Agriculture Inspector Phyllis Fong on USDA on budget request
    • 10:30am: Treasury Sec. Jack Lew at Senate Finance Cmttee re budget request
    • 3pm Ruslana Lyzhychko, former Ukraine Parliament member and EuroMaiden protest leader, speaks at Natl Press Club

WHAT TO WATCH:

  • Kerry makes push to ease Ukraine tension with Lavrov talks
  • China keeps 7.5% growth target this yr as challenges mount
  • Li says China to declare war on pollution as smog spreads
  • SEC giving Markey’s Herbalife concerns “every consideration”
  • Honeywell to host annual outlook mtg, discuss targets
  • GM’s China sales gain 20% in Feb. on demand for Wuling vans
  • Time Warner Cable, EBay present at Morgan Stanley TMT conf.
  • Fed’s Lacker sees first rate increase in ‘early’ 2015
  • Fast Retailing chief sees being world’s biggest retailer: WSJ
  • Goldman No. 1 in equities ranking as 2014 IPO pipeline grows
  • JPMorgan repeats at top in fees; bankers anticipate more deals
  • S&P business at risk on Australia liability finding: lawyer
  • Biogen buys rights to Eisai’s experimental Alzheimer’s drugs
  • Adidas sees 2014 net income below analyst est.
  • IPhone 6 likely to see late-summer introduction: Jefferies
  • U.K. services expand for 14th month as confidence increases
  • U.S. Supreme Court hears arguments on Halliburton securities class action suits
  • Obama said to allow 2-yr renewal of extended health plans

EARNINGS:

    • Boyd Gaming (BYD) 4pm, ($0.26)
    • Brown-Forman (BF/B) 7:45am, $0.76
    • Envision Healthcare (EVHC) 4:05pm, $0.18
    • Giant Interactive Group (GA) 4:05pm, $0.24
    • Hovnanian Enterprises (HOV) 9:15am, ($0.05)
    • Laurentian Bank of Canada (LB CN) 8:40am, C$1.30
    • Linamar (LNR CN) 4:05pm, C$0.71
    • Navistar (NAV) 7am, ($1.75) - Preview
    • PetSmart (PETM) 7am, $1.21
    • Revlon (REV) 6:30am, $0.82
    • Sanchez Energy (SN) 5:44pm, $0.35
    • Semtech (SMTC) 4:30pm, $0.23
    • Veresen (VSN CN) 4:22pm, C$0.06
    • WuXi PharmaTech Cayman (WX) 4:30pm, $0.46
    • Zogenix (ZGNX) 4:01pm, ($0.10)

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Zinc Climbs to One-Year High as China Retains Economic Target
  • WTI, Brent Decline After Biggest Loss in Two Months on Ukraine
  • Illegal Coal Trade at Indonesian Mine Said to Widen: Commodities
  • Barclays, Deutsche Bank Accused in Suit of Gold Fix Manipulation
  • Gold Below Four-Month High as Palladium at Highest Since April
  • Corn Drops Amid Reduced Concern About Ukraine Export Disruption
  • Palm Oil May Top 3,000 Ringgit for Mistry If El Nino Occurs
  • Jiangxi’s Li Sees China Copper Demand Matching Economic Growth
  • Indonesians Buying Bread to Spur Wheat Imports on Egyptian Scale
  • Indian Sugar Exports Jumping as Brazil Drought Fuels Rally
  • Frigid U.S. Weather Means Highest Power Prices Since ’08: Energy
  • Buffett’s BNSF Crude Cars Spur $5 Billion Safety Spat: Freight
  • Oil Money May Urge Russia to Think Twice About Ukraine
  • Brazil’s Dryness-to-Carnival Boosting Coffee Prices; Sugar Rises

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