• It's Coming...

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – May 9, 2014


As we look at today's setup for the S&P 500, the range is 27 points or 0.78% downside to 1861 and 0.66% upside to 1888.                                              

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: 2.22 from 2.23
  • VIX closed at 13.43 1 day percent change of 0.22%

MACRO DATA POINTS (Bloomberg Estimates):

  • 10am: JOLTs Job Openings, March, est. 4.100m (prior 4.173m)
  • 10am: Wholesale Inventories m/m, March, est. 0.5% (prior 0.5%)
  • 11am: Fed to purchase $1.5b-$2b notes in 2020-2021 sector
  • 1pm: Baker Hughes rig count
  • 12pm: Fed’s Fisher speaks in New Orleans
  • 8:10pm: Fed’s Kocherlakota speaks in St. Paul, Minn.

GOVERNMENT:

    • 12:50pm: CFPB Director Richard Cordray speaks at Federal Reserve Bank of Chicago’s conf. on Bank Structure & Competition
    • 12:55pm: President Obama speaks on energy efficiency in Calif.
    • U.S. ELECTION WRAP: Benghazi Political Risk; Bitcoins for PACs

WHAT TO WATCH:

  • Apple said near buying Beats Electronics for $3.2b
  • Apple to move up iPhone 6 sales date by a mo.: Eco. Daily News
  • Omnicom, Publicis abandon $35b plan for advertising merger
  • Mitsubishi UFJ said to weigh offer for BNY corporate trust unit
  • Key Senate Democrats said to reject Fannie Mae overhaul measure
  • Marchionne to locate Fiat Chrysler headquarters in London
  • Winklevoss twins seek Nasdaq listing for Bitcoin exchange fund
  • RadioShack will close fewer stores as it contends with lenders
  • Twitter COO Rowghani sells part of stake as IPO lockup expires
  • U.S. administration reviewing ban on crude oil exports: FT
  • Telefonica earnings miss estimates as demand in Spain falls
  • Vestas beats ests., posts unexpected 2nd straight qtrly profit
  • Man Group assets increase 1.7% to $55b on GLG gain
  • China’s inflation decelerates to slowest pace in 18 months
  • U.S. Retail Sales, Yellen, BOE, Japan GDP: Wk Ahead May 10-17

EARNINGS:

    • Bloomin’ Brands (BLMN) 7am, $0.47
    • Broadridge Financial (BR) 7am, $0.25
    • Chiquita Brands (CQB) 8:01am, $0.14
    • EchoStar (SATS) 8am, $0.03
    • Enerplus (ERF CN) 6am, C$0.26
    • EW Scripps (SSP) 7:30am, $(0.12)
    • Hilton Worldwide (HLT) 6am, $0.09
    • HMS (HMSY) 7:30am, $0.16
    • Horizon Pharma (HZNP) 6:30am, $(0.02)
    • Magnum Hunter Resources (MHR) 7am, $(0.14)
    • NorthStar Realty Finance (NRF) 7:30am, $0.23
    • Ralph Lauren (RL) 8:01am, $1.63 - Preview
    • Sirona Dental Systems (SIRO) 7am, $0.78
    • Stratasys (SSYS) 5am, $0.40
    • TMX (X CN) 6am, C$1.04

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Nickel Set for Biggest Weekly Gain Since 2010 on Supply Concern
  • WTI Heads for Weekly Gain as Crude Stockpiles Drop; Brent Rises
  • Biggest Iron Ore Bounty Locked in Spat Eases Glut: Commodities
  • Wheat Extends Drop Before USDA Report on Global Supply Outlook
  • Gold Heads for Second Weekly Drop on Ukraine to Stimulus Outlook
  • Record Beef, Pork Prices Mean Pricey Barbecues: Chart of the Day
  • Palm Imports by India Seen Rising First Time in Four Months
  • Iron Ore Slumps to Lowest Since 2012 as Global Surplus Deepens
  • Russia’s Exports Unhindered by Putin’s Incursion Into Ukraine
  • Tumble in Fuel Sales Adds to Evidence of China Slowdown: Energy
  • Norway Sees Stable Russia Gas Supply to EU Beyond Ukraine Crisis
  • Oil Producer Pleas Snubbed by Norway as Offshore Costs Surge
  • Russian Gas Bypass Forces Ukraine to Develop Domestic Resources
  • Cocoa Extends Drop in London on West Africa Crops; Sugar Rises

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