THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – July 14, 2014


As we look at today's setup for the S&P 500, the range is 32 points or 0.74% downside to 1953 and 0.89% upside to 1985.                                 

                                                                                              

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: 2.07 from 2.07
  • VIX closed at 12.08 1 day percent change of -4.05%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • No major economic reports expected
  • 1:30pm: ECB’s Draghi speaks to EU Parliament Committee

 

GOVERNMENT:

    • Sen. Lisa Murkowski plans to meet Commerce Sec. Penny Pritzker this wk to discuss lifting 39-yr-old ban on crude oil exports
    • U.S. Treasury Chief China Coordinator Sharon Yuan, key figure negotiating trade pacts involving banking, securities, travels to Brussels for T-TIP talks
    • 8:45am: U.S. Energy Information Administration begins 2-day 2014 Energy Conf.
    • 5pm: House Rules Cmte meets on H.R. 5021, highway funding bill

 

WHAT TO WATCH:

  • Shire willing to recommend $53.7b takeover by AbbVie
  • Citigroup said poised to end mortgage-bond probe for $7b
  • Aecom Technology agrees to buy URS Corp. for $4b
  • Whiting to purchase Kodiak for $3.8b to lead Bakken
  • Lindt to buy Russell Stover to expand in N. America
  • GE’s CFM gets $2.6b American Airlines A320 engines order
  • Bank of China leasing unit said to near Airbus, Boeing deals
  • Generali sells Swiss private bank BSI to BTG Pactual for $1.7b
  • KKR is said to buy stake in BlackGold
  • EBay in partnership to stream Sotheby’s sales worldwide: NYT
  • Israel strikes back against fire from Gaza, northern neighbors
  • T-Mobile says potential Sprint review could last 2 yrs: HSBC
  • Singapore GDP unexpectedly shrinks as manufacturing declines
  • U.S. gasoline falls to $3.6699 a gallon in Lundberg Survey

 

EARNINGS:

    • Bank of Ozarks (OZRK) 5pm, $0.34
    • Citigroup (C) 8am, $1.05 - Preview
    • Peregrine Pharmaceuticals (PPHM) 4pm, ($0.07)
    • Sirius XM Canada (XSR CN) 4:09pm, C$0.01
    • Wintrust Financial (WTFC) 4:01pm, $0.72

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Palm Oil Enters Bear Market as U.S. Sees Record Soybean Reserves
  • Standard Chartered Sues Decheng Owner Chen for $35.6 Million
  • Goldman Stays Gold Bear as Bullish Wagers Increase: Commodities
  • Sugar Market Reversal Seen by Rabobank as Demand Tops Supply
  • Oil Contango Close to Incentivizing Storage of Crude on Tankers
  • Zinc Trades at Highest in Almost Three Years as Stocks Shrink
  • East Libya Rebels Commit to Keep Open Largest Crude Export-Port
  • Sugar Rises as Surpluses Seen Ending in 2014-15; Coffee Advances
  • Nickel Market Seen by Citi Depleted Faster Than Expected on Ban
  • Natural Gas Supply Gains Keep Driving Bulls From Market: Energy
  • Gold Drops as Advance to Four-Month High Spurs Investors to Sell
  • Whiting’s $3.8 Billion Kodiak Deal Crowns New Bakken Shale King
  • Iron Ore Seen Rangebound This Half Before 2015 Slump, Citi Says
  • Corn Extends Drop to 4-Year Low as Global Supplies Seen Climbing

 

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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