THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – May 14, 2014


As we look at today's setup for the S&P 500, the range is 28 points or 1.29% downside to 1873 and 0.19% upside to 1901.                                                

                                                                               

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: 2.21 from 2.23
  • VIX closed at 12.13 1 day percent change of -0.82%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, May 9 (prior 5.3%)
  • 8:30am: Producer Price Index, April, est. 0.2% (prior 0.5%)
  • PPI Ex Food and Energy, April, est. 0.2% (prior 0.6%)
  • 10:30am: DOE Energy Inventories

 

GOVERNMENT:

    • House in recess; Senate in session
    • SEC Commissioner Piwowar among participants at Sifma Market Structure Conference in New York
    • Peterson Foundation Fiscal Summit: Sen. Budget Cmte Chair Patty Murray, fmr Fed Chairman Greenspan, Fmr President Bill Clinton, N.J. Gov. Chris Christie, among participants
    • 2pm: SEC Chairwoman Mary Jo White, acting CFTC Chairman Mark Wetjen on financial mkt oversight at Sen. Appropriations panel
    • 2:15pm: President Obama’s nomination of Sylvia Burwell as HHS secretary under consideration at  Senate Finance Cmte hearing
    • 5:15pm: U.S. Trade Rep. Michael Froman speaks at “Politics of Global Trade” conference at Bloomberg HQ
    • U.S. ELECTION WRAP: Jany Out in Fla.; Conyers Not Qualified

 

WHAT TO WATCH:

  • Fortress said to be preparing $4.7b Stuyvesant Town bid
  • U.S. said to seek $3.5b from BNP Paribas on Sudan, Iran deals
  • TPG preparing American Tire for IPO: Reuters
  • Obama orders sanctions over Central African Republic fight
  • Boeing wins $3.8b 737 order amid China travel boom
  • Wheeler riles Jello Biafra as FCC sets Internet-fast lane vote
  • China central bank calls for faster lending in slump
  • Sony unexpectedly forecasts loss amid PC restructuring costs
  • MSCI semiannual index review after 5pm NY time: Preview
  • ASCO conference summaries release at 5pm: Preview
  • David Tepper speaks as SALT conference opens
  • President Obama speaks on infrastructure in New York

 

AM EARNS:

    • B2Gold (BTO CN) 6:30am, $0.02
    • Coty (COTY) 6am, $0.09
    • Deere (DE) 7am, $2.49 - Preview
    • EZchip Semiconductor (EZCH) 8am, $0.32
    • GasLog (GLOG) 6:02am, $0.16
    • Hanwha SolarOne Co (HSOL) 6am, NA
    • Kate Spade (KATE) 7:34am, ($0.04)
    • Macy’s (M) 8am, $0.60 - Preview
    • Pinnacle Foods (PF) 8:15am, $0.35
    • Plug Power (PLUG) 7am, ($0.05)
    • SodaStream (SODA) 7:30am, $0.17
    • Springleaf Holdings (LEAF) 7:30am, $0.43

 

PM EARNS:

    • Acxiom (ACXM) 4:05pm, $0.20
    • Agilent Technologies (A) 4:05pm, $0.73
    • Cisco Systems (CSCO) 4:05pm, $0.48
    • Eagle Materials (EXP) 4:15pm, $0.50
    • Jack in the Box (JACK) 4:01pm, $0.52
    • NetEase (NTES) 5pm, $1.42
    • Osisko Mining (OSK CN) 4:32pm, C$0.08
    • Real Goods Solar (RGSE) 4pm, ($0.11)
    • RMP Energy (RMP CN) 4:05pm, C$0.08
    • SeaWorld Entertainment (SEAS) 4:01pm, ($0.49)
    • Vipshop Holdings (VIPS) 4:01pm, $0.46
    • WuXi PharmaTech Cayman (WX) 4:30pm, $0.39

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Silver Fixing Company Will Stop Running Benchmark on Aug. 14
  • WTI Rises for Third Day as Cushing Stockpiles Drop; Brent Gains
  • Palm Exports From Indonesia Rising to Four-Month High on Ramadan
  • Goldman Says Commodities Retain Appeal as World Economy Recovers
  • Palladium Advances to Highest Since August 2011 as Gold Gains
  • Nickel Retreats After Six Days of Gains as Rally Seen Excessive
  • Wheat Extends Slide From 14-Month High on World Supply Outlook
  • Sugar Extends Gain to Two-Month High in London; Coffee Declines
  • Steel Rebar Closes Near Record Low on China Mortgage Loosening
  • Coal Export Foes in U.S. Look to Clean Asia’s Backyard: Energy
  • Russian Slowdown to Shield Europe From Ukraine Gas Cuts
  • Carbon Volatility Jump Hastens Trading Retreat: Chart of the Day
  • China Nickel Ore Imports Plunge 59% Following Indonesia Ban
  • Keystone Delays Are Fueling Push for Canada Eastern Oil Pipeline

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

 

 

 

 

 

 

 

 

 

 

 

 

 


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