THE HEDGEYE DAILY OUTLOOK

 TODAY’S S&P 500 SET-UP – May 19, 2014


As we look at today's setup for the S&P 500, the range is 21 points or 0.90% downside to 1861 and 0.22% upside to 1882.                                       

                                                                                        

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: 2.16 from 2.16
  • VIX closed at 12.44 1 day percent change of -5.54%

 

MACRO DATA POINTS (Bloomberg Estimates):

 

  • 11:30am: U.S. to sell $25b 3M, $23b 6M bills
  • 12:10pm: Fed’s Williams and Fisher speak in Dallas
  • 12:50pm: Former Fed Chair Bernanke speaks in Dallas

 

GOVERNMENT:

    • House in session; Senate returns Tue.
    • President Obama attends evening fundraiser at private home in Potomac, Md.
    • 10am: Supreme Court may release opinions
    • 11:45am: Former Treasury Sec. Tim Geithner speaks at Politico lunch
    • 1pm: Energy Sec. Ernest Moniz, EPA Admin. Gina McCarthy participate in Google+ Hangout
    • Financial Stability Oversight Council hosts conf. on risks to financial system; includes Citadel’s Ken Griffin

 

WHAT TO WATCH:

  • AstraZeneca rejects Pfizer’s sweetened $117b takeover proposal
  • AT&T agrees to buy DirecTV for $95/shr as TMT deals continue
  • Deutsche Bank to raise $11b as Qatar taking stake
  • GE said to seek partners on Alstom assets for French approval
  • Johnson Controls to spin off Automotive Interiors into JV
  • Credit Suisse guilty plea looms as U.S. said to reassure banks
  • Blackstone sells five Boston towers for $2.1b: WSJ
  • Walgreen considering GBP10.5b Boots buyout: Sunday Times
  • Cisco CEO calls on Obama to rein in surveillance: FT
  • Google’s YouTube said to buy Twitch for $1b: Variety
  • Yahoo Japan cancels plan to buy EAccess from SoftBank
  • ’Godzilla’ wins N.A. box office with est.-beating $93.2m
  • Gasoline prices fall to $3.6876/gal. in Lundberg survey
  • Gunmen storm Libya parliament as violence grip oil producers
  • Marriott offers EU130m for Madrid Ritz Hotel, Expansion says
  • Ryanair targets profit growth by flying 3m more travelers
  • Ousted NYT Editor Abramson to speak at Wake Forest commencement

 

EARNINGS:

    • Campbell Soup Co (CPB) 6:30am, $0.59
    • Urban Outfitters (URBN) 4pm, $0.27
    • Valspar (VAL) 7:30am, $1.04

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Brent Extends Weekly Gain as Libya Fighting Worsens; WTI Rises
  • Hedge Funds Cut Bullish Gold Wagers Most in a Month: Commodities
  • Thai Gold Imports Plunge Amid Political Deadlock: Southeast Asia
  • European Central Banks Make Gold Agreement Without Sales Limit
  • Gold Climbs on Speculation of India Relaxing Import Restrictions
  • Cocoa Drops on Outlook for West African Crops; Arabica Declines
  • Wheat Set for Longest Slump in 15 Years as Rain Aids U.S. Crops
  • Nickel Advances as Norilsk Forecasts Move to Deficit Next Year
  • Norilsk Sees Nickel Surplus Shrinking to Smallest in Four Years
  • Natural Gas Bets Drop to Five-Month Low on U.S. Supply: Energy
  • Biggest 10 Banks’ Commodities Revenue Rises 26% Amid Pullback
  • Iron Ore Futures on SGX Below $100 for First Time Since 2013
  • Global Grain Production Records Show No Signs of Peak: Bull Case
  • Russia Gas Supply Fears Spur Record Trading on ICE Exchange

 

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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