THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – May 30, 2014


As we look at today's setup for the S&P 500, the range is 31 points or 1.30% downside to 1895 and 0.31% upside to 1926.                                                 

                                                                              

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: 2.10 from 2.09
  • VIX closed at 11.57 1 day percent change of -0.94%

 

MACRO DATA POINTS (Bloomberg Estimates):

 

  • 8:30am: Personal Income, Apr., est. 0.3% (prior 0.5%)
  • 8:30am: Personal Spending, Apr., est. 0.2% (prior 0.9%)
  • 8:30am: Fed’s Pianalto speaks on 2nd day of conference entitled, “Inflation, Monetary Policy and the Public”
  • 9am: ISM Milwaukee, May, est. 52 (prior 47.26)
  • 9:45am: Chicago PMI, May, est. 61 (prior 63)
  • 9:55am: U. Mich. Confidence, May final, est. 82.5 (prior 81.8)
  • 12:30pm: Loretta Mester, who takes office as Cleveland Fed president on June 1, speaks at conference
  • 1pm: Baker Hughes rig count
  • 2pm: Fed’s Lacker speaks at Stanford
  • 5pm: Fed’s Williams, Plosser speak at Stanford

 

GOVERNMENT:

    • President Obama attends hurricane preparedness mtg at FEMA
    • House in session; Senate meets in pro forma session
    • U.S., South Korea, Japan defense heads meet during Asian Security Summit in Singapore
    • House Democrats’ campaign chairman calls on Shinseki to resign
    • U.S. ELECTION WRAP: Shinseki Election Politics; Democrats’ Ads

 

WHAT TO WATCH:

  • Citigroup Mexico probe focuses on changes to loans before fraud
  • Apple must face e-book price-fixing trial before appealing
  • U.S. said to seek >$10b settlement from BNP Paribas
  • CA Technologies accused of $100m U.S. contract fraud
  • Microsoft, Salesforce unveil cloud-computing partnership
  • Google moves to comply with EU ruling on right to be forgotten
  • Manhattan condo prices fall as buyers push back in cooler mkt
  • High-frequency perks said focus of CFTC review cited by Virtu
  • GM seeks N.Y. court for recall suits as more deaths are claimed
  • Musk says SpaceX reusable capsule could ferry astronauts by 2016
  • Siemens to remove 11,600 positions as company reduces costs
  • France may impose brandless cigarette packaging: Figaro
  • U.S. Jobs, ECB, BOE, Obama in Europe: Wk Ahead May 31-June 7

 

EARNINGS:

    • Ann Inc. (ANN) 7:31am, $0.31
    • Big Lots (BIG) 6am, $0.44

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

 

  • Iron Ore Heads for Record Losing Run as Forrest Sees Risk of $80
  • WTI Set for Monthly Gain as Cushing Supplies Drop; Brent Steady
  • Food Replacing Oil as China M&A Commodity of Choice: Commodities
  • India Gold Import Curbs Said to Continue at Least Until Budget
  • Lead and Zinc Fall as Trading Slows Down Before Chinese Holiday
  • Wheat Heads for Biggest Monthly Loss Since 2011 on U.S. Outlook
  • Robusta Coffee Drops as Liffe Stockpiles Climb; Cocoa Advances
  • Steel Rebar in Shanghai Ends at Record Low After Iron Ore Drops
  • China’s Pork Prices Seen Declining as Farmers Buy More Piglets
  • Lonmin Seen Weakest in Holdout Against 18-Week Platinum Strike
  • Diesel Profit Dropping as Indonesia Ban Shutters Mines: Energy
  • CFTC Should Reconsider Gensler Overseas Advisory, Wetjen Says
  • Libyan Oil Output Slumps Yet Further, With No Sign of Recovery
  • Gold Set for Monthly Drop as U.S. to Ukraine Curbs Haven Demand

 

THE HEDGEYE DAILY OUTLOOK - 5

 

CURRENCIES


THE HEDGEYE DAILY OUTLOOK - 6

 

GLOBAL PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 3

 

THE HEDGEYE DAILY OUTLOOK - 40

 

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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