THE HEDGEYE DAILY OUTLOOK

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


As we look at today's setup for the S&P 500, the range is 36 points or 1.55% downside to 1848 and 0.37% upside to 1884.                               

                                                                                                

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 2.40
  • VIX closed at 14.21 1 day percent change of 2.30%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Trade Balance, Jan., est. -$38.5b (prior $38.7b)
  • 8:30am: Nonfarm Payrolls, Feb., est. 147k (pr 113k)
  • 12pm: Fed’s Dudley speaks in New York
  • 12:30pm: Former Fed Chairman Bernanke speaks in Houston
  • 1pm: Baker Hughes rig count
  • 3pm: Consumer Credit, Jan., est. $14b (prior $18.756b)

GOVERNMENT:

    • 8:30am: Medicare Payment Advisory Commission meets on synchronizing benchmarks across payment models

WHAT TO WATCH:

  • Employers in U.S. seen adding 149k jobs in Feb.
  • Safeway to be bought by Cerberus’s Albertsons for $9.2b
  • Putin pressed to ease Ukraine standoff under sanction threat
  • Chaori Solar is first bond default in China onshore market
  • Keystone XL public comment period ends today
  • Cliffs postpones mtg record date to accommodate Casablanca
  • Merrill Lynch seeing management turnover, WSJ reports
  • Twitter paid $36m for 900 IBM patents to build portfolio
  • Ford to move pickup production from Mexico to Ohio van plant
  • Judge orders Duke to clean up North Carolina coal ash: Reuters
  • BP says Asian regulators join price-manipulation probe: WSJ
  • Mexico said to look for Oceanografia CEO as contracts reviewed
  • Amcol says new Minerals buyout proposal superior to Imerys’s
  • U.S. Retail Sales, Budget Hearings, China: Wk Ahead March 8-15

EARNINGS:

    • Big Lots (BIG) 6am, $1.39
    • Foot Locker (FL) 7am, $0.76 - Preview
    • Genesco (GCO) 7:22am, $2.18
    • Penn West Petroleum (PWT CN) 6:31am, C$(0.04)
    • Peregrine Pharmaceuticals (PPHM) 8am, $(0.06)

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Corn Set for Bull Market as U.S. Exports Gain Amid Ukraine Woes
  • WTI Crude Set for First Weekly Loss Since January; Brent Stable
  • Gold Defying Goldman Sachs With Coffee Percolating: Commodities
  • Copper Reaches 15-Week Low as China Default Fuels Demand Concern
  • Aluminum Buyers in Japan Said to Agree to Pay Record Fee
  • China Says It Has No Time Line for Decision on Syngenta GMO Corn
  • Gold Trades Below 4-Month High as Palladium Near Highest in Year
  • Arabica Coffee Rebounds Amid Slowing Sales in Top Grower Brazil
  • Years Needed for U.S. Gas Exports to Blunt Russian Energy Sales
  • Duo Who Built Trading Empire Set Sights on JPMorgan Unit: Energy
  • Aging El Nino Buoys Get Fixed as Weather Forecasts at Risk
  • South Africa Takes No Sides in Platinum Strike, President Says
  • LNG, Shale Among Risks for European Gas Shipments, Gazprom Says
  • Rebar Falls to Post Weekly Loss Amid Chaori Solar Bond Default

THE HEDGEYE DAILY OUTLOOK - 5

 

CURRENCIES


THE HEDGEYE DAILY OUTLOOK - 6

 

GLOBAL PERFORMANCE

 

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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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