THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – March 12, 2014


As we look at today's setup for the S&P 500, the range is 46 points or 1.27% downside to 1844 and 1.20% upside to 1890.                      

                                                                                                         

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 14.8 1 day percent change of 4.23%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, March 7 (est. 9.4%)
  • 10:30am: DOE Energy Inventories
  • NOTE: Monthly Budget Statement moved to March 13

GOVERNMENT:

    • Florida Republican David Jolly wins special House election
    • 9am: Senate Armed Svcs Cmte holds hearing on Afghanistan
    • 10am: House Armed Svcs Cmte hears from Marine Corps Commandant James Amos, Navy Sec. Ray Mabus, Chief of Naval Operations Jonathan Greenert on 2015 defense authorization budget request
    • 10am: Senate Health Education and Labor Cmte hears from Labor Sec. Thomas Perez on proposed minimum wage increase
    • 10am: House Ways and Means Cmte hears from HHS Sec. Kathleen Sebelius on her agency’s 2015 budget request
    • 10:30am: SEC to vote on proposal for new risk-management standards for clearing firms such as Depository Trust Co.
    • 10:30am: House Judiciary Cmte holds hearing on the Internet sales tax

WHAT TO WATCH:

  • Apple appeals rejection of Samsung smartphone sale-ban bid
  • AutoTrader owners Cox, Apax said interested in Cars.com
  • GM criminal probe of recalls seen complicating Barra turnaround
  • Obama meeting with Ukraine’s Yatsenyuk raises stakes with Putin
  • Malaysian air force denies saying plane tracked to Malacca
  • Wilbur Ross says Diamond S Shipping IPO pulled on low price
  • Gross sells Treasuries as Gundlach says U.S. yields will fall
  • Cash abroad from largest U.S. cos. rose 11.8% last yr
  • SoftBank challenge to cable won’t avoid T-Mobile deal scrutiny
  • Christie appointees ban N.J. direct sales for Musk’s Tesla cars
  • Bayer sees 8% growth in drug sales through 2016
  • Buffett’s BNSF leads surge to ease railroad cargo jam
  • VimpelCom says U.S., Dutch authorities probe Uzbekistan unit
  • Intel seeks acquisitions in Europe, Morales tells Handelsblatt
  • China’s Xunlei files prospectus for U.S. IPO: Securities Daily

EARNINGS:

    • Abraxas Petroleum (AXAS) 6am, $0.05
    • Crescent Point Energy (CPG CN) 8am, C$0.17
    • Dresser-Rand (DRC) 4:45pm, $1.28
    • Express (EXPR) 7am, $0.59
    • Krispy Kreme Doughnuts (KKD) 4:02pm, $0.13
    • Matador Resources (MTDR) 4:05pm, $0.26
    • North West (NWC CN) 4:30pm, C$0.35
    • Orexigen Therapeutics (OREX) 4:01pm, $(0.19)
    • Raven Industries (RAVN) 9am, $0.32
    • Scientific Games (SGMS) 4:12pm, $0.07
    • Semafo (SMF CN) 8:23am, $(0.01)
    • Vail Resorts (MTN) 4pm, $1.88
    • Williams-Sonoma (WSM) 4:05pm, $1.35 - Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Copper Slumps to 44-Month Low on Concern China Demand Is Slowing
  • WTI Falls as U.S. Crude Stocks Rise, Widening Discount to Brent
  • Soy Crop at Record in Brazil Clogging Ports as China Spurs Trade
  • Iran Thaw Seen Opening $6 Billion Market for Steel: Commodities
  • Palm Imports by India Slumping 30% on Prices Highest Since 2012
  • Gold Advances to Six-Month High as Ukraine Spurs Haven Demand
  • Soybeans Drop After 14% Rally as China May Cancel More Cargoes
  • Sugar Falls Amid Commodities Retreat as Rains Return to Brazil
  • Rebar Climbs From Lowest Since Shanghai Contract Started in 2009
  • Copper’s China-Driven Tumble Seen Near Bottom, Tiger Says
  • China on Course to Exceed 2015 Shale Target With Fuling Find
  • Putin Opens Up Europe’s Energy Fault Line Along Oder-Neisse
  • WTI Crude Shielded From Ukraine on U.S. Output: Chart of the Day
  • Palm Oil Slumps Most This Year as Rally Seen Weakening Demand

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

 

 

 

 

 

 

 

 

 

 

 

 

 


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