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TODAY’S S&P 500 SET-UP – April 4, 2014


As we look at today's setup for the S&P 500, the range is 31 points or 1.10% downside to 1868 and 0.54% upside to 1899.                                 

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: 2.34 from 2.34
  • VIX closed at 13.37 1 day percent change of 2.14%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Change in Nonfarm Payrolls, March, est. 200k (pr 175k)
  • Unemployment Rate, March., est. 6.6% (prior 6.7%)
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • President Obama meets with Tunisian Prime Minister Mehdi Jomaa
    • Secretary of State John Kerry on trip to Morocco
    • FY15 budget panels/testimony:
    • 9am: House Appropriations hears from Attorney General Eric Holder on Justice Dept. request
    • 10:30am: House Armed Svcs hearing on FY15 budget request for intelligence activities
    • Deadline for EPA employees to take up option to retire early, take buyout worth up to $25k
    • U.S. ELECTION WRAP: Rogers, Camp Retirements to Test Boehner

WHAT TO WATCH:

  • Employers probably boosted pace of U.S. hiring for 3rd month
  • IMS Health prices IPO of 65m shrs at $20/shr
  • GrubHub sells 7.41m shrs at $26/shr in IPO
  • Meda chairman confirms prelim. Mylan contact, Direkt reports
  • Lenovo-IBM deal under U.S. scrutiny over Pentagon server use
  • Jennifer Lopez-Backed NuvoTV said in deal to buy MSG’s Fuse TV
  • Apple loses patent-use bid in $2b Samsung Trial
  • Bank of America discussing $800m settlement with CFPB: DJ
  • Delta may buy as many as 50 new wide-body jets: WSJ
  • Boeing considers buying supplier Mercury Systems: Reuters
  • Liberty Global unit eyes German stores amid O2, E-Plus merger
  • GE chooses H.K. for aircraft leasing co.’s $700m IPO: IFR
  • German Feb. factory orders beat est.
  • JPMorgan folds London Whale investment office into another unit
  • RBS names Credit Suisse’s Stevenson CFO
  • IMF Meeting, Fed, China Exports, Ally IPO: Wk Ahead April 5-12

EARNINGS:

    • CarMax (KMX) 7:35am, $0.54
    • Synergy Resources (SYRG) 6am, $0.09

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Aluminum Heads for Biggest Weekly Advance Since November 2012
  • WTI Crude Rises a Second Day Before U.S. Data; Brent Advances
  • Wheat Fields See Worst Damage in Five Years on Drought to Freeze
  • Drones Portend High-Tech Future for Dangerous Mines: Commodities
  • Port Hedland Iron Ore Shipments to China Reach Record on Demand
  • Wheat Set for Biggest Weekly Drop Since January on Rain in U.S.
  • India’s Gold Imports Said to More Than Double in March From Feb.
  • Robusta Coffee Rises After 23% Stockpiles Draw; Cocoa Advances
  • Rebar in Shanghai Rises for 2nd Week on Iron Ore, China Policy
  • Coffee Exports From India Dropping as Rains Shrink Harvest
  • World’s Biggest Coal Terminal to Review 2015 Goal on Power Cut
  • Pollution Traders Bullish as Europe Squeezes Permit Glut: Energy
  • Gazprom 81% Ukraine Gas Price Surge May Open Door for RWE, PGNiG
  • Gold Prices Pare Weekly Decline in London Before U.S. Jobs Data

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