THE HEDGEYE DAILY OUTLOOK

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


As we look at today's setup for the S&P 500, the range is 50 points or 1.35% downside to 1840 and 1.34% upside to 1890.                                                 

                                                                              

SECTOR PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 1

 

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EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.31 from 2.31
  • VIX closed at 13.96 1 day percent change of 4.41%

MACRO DATA POINTS (Bloomberg Estimates):

  • 11am: U.S. to announce plans for auction of 4wk bills
  • 11:45am: Fed’s Bullard speaks in Los Angeles
  • 3pm: Consumer Credit, Feb., est. $14b (prior $13.698b)

GOVERNMENT:

    • Obama speaks on economy in Prince George’s County, Md.
    • Senate plans vote on unemployment insurance extension
    • IRS Commissioner John Koskinen to testify on FY15 budget request before House Appropriations panel
    • Senate Finance Cmte Chairman Ron Wyden, D-Ore., gives keynote address at BNEF conference on Future of Energy; 1:10pm

WHAT TO WATCH:

  • Tech stocks drop; puts trade most since 2010 flash crash
  • Lawsky said to probe alleged Credit Suisse role in tax shelters
  • Holcim to merge with Lafarge to create biggest cement maker
  • India’s Sun to acquire Ranbaxy in $3.2b stock deal
  • BlackRock boosts top ranks in 2nd reorganization in 2 yrs
  • Wesfarmers to sell insurance broking to Arthur J. Gallagher
  • Billionaire Drahi to buy Vivendi’s SFR in $23b deal
  • Potash Corp. brings Doyle era to a close as Tilk named next CEO
  • Pfizer’s Palbociclib shows trend for improved survival
  • Bogus private-equity fees said found at most firms in SEC exam
  • ’Captain America’ Opens With $96.2m, an April Record
  • German industrial output rose more than forecast in Feb.
  • Global ad spending to rally, grow 5.5% in 2014: ZenithOptimedia

EARNINGS:

    • A Schulman (SHLM) 4:01pm, $0.33
    • Novagold Resources (NG CN) 4:30pm, C$(0.03)

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Brent Oil Drops as Libyan Rebels Agree to Open Ports; WTI Slides
  • Copper Titans Gather as Decade-High Glut Overshadows Quakes
  • Speculators Mistime Bearish Gold Bets Before Rally: Commodities
  • Nickel Rises as Biggest Producer Says Supplies Might Run Short
  • Potash Corp. Brings Doyle Era to a Close as Tilk Named Next CEO
  • Palm Oil Reserves in Malaysia Dropping to Lowest in Three Years
  • Coffee Advances on Concern Drought to Curb Supplies; Sugar Drops
  • Gold Trades Below One-Week High as Investors Weigh Fed Outlook
  • Wheat Rises as Report May Show U.S. Dryness Damaging Plains Crop
  • U.S. Gasoline Prices Rise to Eight-Month High in Lundberg Survey
  • Hedge Funds Buy Crude as U.S. Gasoline Pump Prices Jump: Energy
  • Libya Crude Oil Sales to Rise as Rebels Surrender Two Ports
  • China Demand Weighs on Iron Ore Prices, Estimates Mostly Flat
  • JPMorgan’s Ouyang Said to Quit as Head of Asia Commodity Trade

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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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