THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – June 9, 2014


As we look at today's setup for the S&P 500, the range is 31 points or 1.25% downside to 1925 and 0.34% upside to 1956.                           

                                                                                                    

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 2.19
  • VIX closed at 10.73 1 day percent change of -8.13%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • No major reports scheduled
  • 9:10am: Fed’s Bullard speaks in Florida
  • 12:45pm: Fed’s Tarullo speaks in Washington
  • 1:30pm: Fed’s Rosengren speaks in Guatemala

 

GOVERNMENT:

    • Obama said to prepare action to ease student debt payments
    • Kerry calls threats of freed Taliban to resume war ’baloney’
    • House Veterans’ Affairs Cmte hearing on “Data Manipulation and Access to VA Healthcare: Testimony from GAO, IG and VA
    • 9:30am/10am: Supreme Court to issue orders, opinions
    • 11am: NABE holds conf call to discuss economic outlook
    • 9pm: Former Sec. of State Hillary Clinton to be interviewed on ABC News on new book ‘‘Hard Choices”
    • U.S. ELECTION WRAP: Mississippi Politics; Calif. 31st CD Race
    • Washington Week Ahead

 

WHAT TO WATCH:

  • Tyson said to win bid for Hillshire, besting Pilgrim’s Pride
  • Treasury discloses limits on bank-data sharing w/spy agencies
  • Credit Suisse may sell more of fixed-income venture
  • Netflix holders vote whether to split chairman/CEO role
  • China said to suspend import permits for Sygenta’s MIR 162
  • McDonald’s May comp-sales growth seen led by Asia, Europe
  • SABMiller seeks to ramp up shr of U.S. premium-beer mkt: FT
  • Buffett auction gets $2.17m winning bid from Singaporean
  • Kraft joins J.M. Smucker in raising coffee prices
  • Japan growth picks up more than estimated on investment
  • Macau yr gaming growth est. cut to 12% at Deutsche Bank

 

EARNINGS:

    • Casey’s General Stores (CASY) 4pm, $0.53
    • Comverse (CNSI) 6:50am, $(0.06)
    • Ferrellgas Partners (FGP) 7am, $0.59
    • Hertz (HTZ) 6:02am, $0.09
    • Pep Boys-Manny Moe & Jack (PBY) 4:30pm, $0.06
    • Triangle Petroleum (TPLM) 5:48pm, $0.12

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Trades Near Three-Day High on U.S. Employment; Brent Rises
  • Cotton Acres Expanding in India as Prices Climb to Two-Year High
  • Copper Bets Cut Most in Month as Metal Leads Losers: Commodities
  • China Said to Suspend Import Permits for U.S. Corn Product
  • Copper Declines as Lower Chinese Imports Stoke Demand Concern
  • Corn Drops as U.S. Crop Conditions Boost Production Prospects
  • Gold Near One-Week High as Palladium Reaches Highest Since 2011
  • Sugar Rises Amid Signs Physical Demand May Recover; Coffee Falls
  • Steel Rebar Falls as China Imports Drop Signals Weakening Demand
  • Hedge Funds Retreat From Record Crude Wagers on Supplies: Energy
  • Vale Too Rich for Barclays on Iron’s 30% Plunge: Brazil Credit
  • World Needs Saudi Arabia to Supply Record Oil as OPEC Meets
  • U.S. Mint Gold Coin Sales Fall 49% on Fed Tapering, Flat Prices
  • Mitsubishi UFJ Trust’s Gold ETF Grows to Record as Prices Drop

 

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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