THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – March 21, 2014


As we look at today's setup for the S&P 500, the range is 35 points or 1.12% downside to 1851 and 0.75% upside to 1886.                                 

                                                                                              

SECTOR PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 1

 

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EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.34 from 2.35
  • VIX closed at 14.52 1 day percent change of -3.97%

MACRO DATA POINTS (Bloomberg Estimates):

  • 11:45am: Fed’s Bullard speaks on panel in Washington
  • 1pm: Baker Hughes rig count
  • 1:45pm: Fed’s Fisher speaks in London
  • 4:30pm: Fed’s Kocherlakota speaks in Washington
  • 7:20pm: Fed’s Stein speaks in Washington

GOVERNMENT:

    • House, Senate out of session
    • 8am:  Moniz speaks with reporters, analysts at BGOV breakfast
    • 8:30am: SEC Chairman Mary Jo White, FCC Chairman Tom Wheeler speak at Consumer Federation of America assembly
    • 10am: Vice President Joe Biden speaks at National Assn of Community Health Centers’ policy forum

WHAT TO WATCH:

  • Gunvor co-founder exits ownership stake as U.S. sanctions hit
  • Sanctioned Bank Rossiya says MasterCard, Visa halt service
  • Banks’ split with Fed on stress may risk shareholder payouts
  • Volcker rule seen costing banks as much as $4.3b: OCC
  • JNJ, Takeda, Roche may receive EMA decisions
  • U.S. keeps AAA rating by Fitch as outlook raised on debt pact
  • Malaysia jet’s steady flight has Australia scouring ocean
  • No positive news yet from satellite search for jet: Malaysia
  • Families seek truth after evasive responses from airline
  • Netflix CEO calls for stronger rules on web traffic handling
  • Nike sees weaker-than-expected sales gain after profit beat
  • Macondo partner Anadarko’s e-mails seen showing role in well
  • Dow, Eastman Chem. back group airing ads to protect senators
  • Chrysler truck sales rise vs those of GM, Ford, WSJ says
  • Obama in Europe, Stress Tests, Microsoft: Week Ahead March 22-29

EARNINGS:

    • Darden Restaurants (DRI) 7am, $0.88
    • Tiffany & Co. (TIF) 6:59am, $1.52 - Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Copper Rises to Trim Weekly Decline as Price Drop Spurs Demand
  • Palm Output in Indonesia Climbing for First Time in Six Months
  • Coffee Belt in Vietnam Poised for Rains Easing Threat of Drought
  • Gold Trims Weekly Decline as Ukraine Crisis Spurs Haven Demand
  • Brent Set for Fourth Weekly Loss Amid Russia Clash; WTI Rises
  • Canada’s Grain Backlog Seen Persisting With More Oil Shipments
  • Palm Heads for Second Weekly Loss as Indonesian Output Increases
  • Global Energy Thirst Threatens to Worsen Water Scarcity, UN Says
  • Wheat Trims Weekly Advance as Dollar Rally Seen Curbing Demand
  • Hot-Rolled Coil Futures Debut in Shanghai to Complement Rebar
  • Baoshan Is Top Steel Stock on China Car Demand: Chart of the Day
  • Russia Senate Clears Crimea Annexation as EU Boosts Ukraine Ties
  • Copper Traders Are Bullish on Speculation Prices Slumped Too Far
  • Copper Advances to Trim Weekly Decline: LME Preview
  • WTI Oil Seen Dropping in Survey on Rising U.S. Crude Supplies

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CURRENCIES


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GLOBAL PERFORMANCE

 

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EUROPEAN MARKETS

 

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ASIAN MARKETS

 

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MIDDLE EAST

 

THE HEDGEYE DAILY OUTLOOK - 9

 

 

The Hedgeye Macro Team

 

 

 

 

 

 

 

 

 

 

 

 

 



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