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TODAY’S S&P 500 SET-UP – March 28, 2014


As we look at today's setup for the S&P 500, the range is 36 points or 0.38% downside to 1842 and 1.57% upside to 1878.                                                  

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: 2.24 from 2.24
  • VIX closed at 14.62 1 day percent change of -2.08%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Personal Income, Feb., est. 0.3% (prior 0.3%)
  • 8:30am: Personal Spending, Feb., est. 0.3% (prior 0.4%)
  • 9:55am: UMich Consumer, March final, est. 80.5 (prior 79.9)
  • 12pm: Industrial Production Benchmark Revisions
  • 12:45pm: Fed’s George speaks in Kansas City, Mo.
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • President Obama meets Saudi Arabia’s King Abdullah in Riyadh; Sec. of State John Kerry attends
    • 4pm: House Homeland Security subcmte holds hearing on LAX shooting with testimony from TSA Administrator John Pistole
    • U.S. ELECTION WRAP: Democratic Senators Seek Obamacare Changes

WHAT TO WATCH:

  • BlackBerry results: analysts keep an eye on cash levels
  • GM to end Opel vehicle sales in China by 2015
  • Amazon denies plans for free streaming video service: AP
  • CBS Outdoor seeks to buy smaller rivals after $560m IPO
  • Evans sees Fed raising interest rates in second half of 2015
  • BofA heading to possible victory over U.S. in mortgage lawsuit
  • Obamacare’s 6m target hit as exchange sees visits surge
  • Alibaba to pay underwriters 1% of U.S. IPO as base fee: WSJ
  • JPMorgan aims for top 3 stock brokerage after lagging behind
  • Intesa Sanpaolo posts $7.1b 4Q loss on goodwill writedowns
  • Euro-area economic confidence may rise for 11th month

EARNINGS:

    • BlackBerry (BB CN) 7am, $(0.57) - Preview
    • BRP (DOO CN) 6am, C$0.44
    • Finish Line (FINL) 7:05am, $0.85

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Oil Set for Weekly Gain on Cushing Stockpiles; Brent Rises
  • Metal Warehouse Delays Get Extended as Judge Halts LME Fix Plan
  • Gold Advances in London as Decline Below $1,300 May Spur Demand
  • Rebar Posts Biggest Weekly Gain Since 2012 as Ore, Coke Climb
  • Copper Rises to Extend Weekly Gain on China Stimulus Speculation
  • Rubber Set for Biggest Quarterly Drop Since ’12 on China Economy
  • MORE: Shanghai Exchange Copper Stockpiles Fall to One-Month Low
  • Coca-Cola to Suzuki Myanmar Factory Rush Spurs Shipping: Freight
  • Europe Seen Paying Twice as Much to Replace Russian Gas: Energy
  • Aluminum Shipments by Japan May Reach 4-Year High on Weak Yen
  • Wheat Trims Weekly Climb as Rains Seen Aiding Parched U.S. Crops
  • Gunvor Billionaire Seeks Investors After Co-Founder Squeezed Out
  • Gold Traders Bearish a Second Week on Outlook for Less Stimulus
  • Tepco Says Worker Dies After Accident at Fukushima Nuclear Plant

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