THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – July 2, 2014


As we look at today's setup for the S&P 500, the range is 27 points or 1.23% downside to 1949 and 0.14% upside to 1976.                                                           

                                                                    

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 2.10
  • VIX closed at 11.15 1 day percent change of -3.63%

 

MACRO DATA POINTS (Bloomberg Estimates):           

  • 7am: MBA Mortgage Applications, June 27 (prior -1.0%)
  • 7:30am: Challenger Job Cuts y/y, June (prior 45.5%)
  • 7:30am: RBC Consumer Outlook Index, July (prior 51)
  • 8:15am: ADP Employment Change, June., est. 205k (prior 179k)
  • 9:45am: ISM New York, June (prior 55.3)
  • 10am: Factory Orders, May, est. -0.3% (prior 0.7%)
  • 10:30am: DOE Energy Inventories
  • 11am: Fed’s Yellen speaks in Washington
  • 2pm: Fed board discusses semiannual monetary policy report to Congress, board oversight and assessment of reserve bank

 

GOVERNMENT:

    • House, Senate on recess until July 8
    • 6am: Quinnipiac releases survey on public opinion of Obama, best and worst presidents since WWII
    • U.S. ELECTION WRAP: Rand Paul’s Hedge Fund Ties; Repub. Ads

               

WHAT TO WATCH:

  • JPMorgan CEO Dimon will undergo treatment for throat cancer
  • Facebook’s news feed experiment probed by U.K. data regulators
  • Motorola Mobility gets second chance at antitrust appeal
  • SolarWorld seeks U.S. investigation of China cyber-hacking
  • Goldman ‘Boy’s Club’ accused of mocking, underpaying women
  • Fastest hiring since 1999 in U.S. as companies’ confidence rises
  • GM judge to review rules for multibillion-dollar recall fight
  • Dow approaches 17,000 as record transports join small-cap rally
  • Apartment rents climb at faster pace as U.S. demand tops supply
  • U.S. sale to Iraq of 4,000 Lockheed missiles said to be readied
  • Nestle sells Juicy Juice brand to buyout firm Brynwood, WSJ says
  • Fed Chair Janet Yellen speaks at International Monetary Fund

 

EARNINGS:

    • Constellation Brands (STZ) 7:30am, $0.93; preview
    • Greenbrier Cos/The (GBX) 6am, $0.74
    • SYNNEX (SNX) 4:05pm, $1.36
    • UniFirst/MA (UNF) 8am, $1.42

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Vanishing Coal-Mine Jobs Squeeze Pension at Risk of U.S. Rescue
  • Brent Falls to Three-Week Low as Libya Rebels Say Ports Reopen
  • More South African Strikes Erupt After Mining Gains: Commodities
  • Platinum Reaches 10-Month High as Gold Near Highest Since March
  • Corn Falls to Near 5-Month Low as Record U.S. Crop Predicted
  • Coffee Gains as Investors Await Brazil Crop Details; Cocoa Falls
  • Electronic Devices Waste $80 Billion of Power a Year, IEA Says
  • Citigroup Says Growing Commodity Market Share as Rivals Retreat
  • Gold’s Rally Will Reverse as Recovery Quickens, Says OCBC’s Gan
  • Euromar Slows Cocoa-Bean Processing on Struggle to Sell Powder
  • Oil Risk Flares in Iran Nuclear Talks Amid Iraqi Unrest: Energy
  • Storm Arthur to Threaten North Carolina by Fourth of July
  • Komatsu CEO Flags China Slump as Mining Market Nears Bottom
  • Copper Trades Near 16-Week High Before U.S. Employment Report

 

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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