THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – July 18, 2014


As we look at today's setup for the S&P 500, the range is 21 points or 0.47% downside to 1949 and 0.61% upside to 1970.                                               

                                                                                

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: 2.01 from 2.00
  • VIX closed at 14.54 1 day percent change of 32.18%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 9:55am: UofMich Consumer Sentiment Index, July prelim., est. 83 (prior 82.5)
  • 10am: Leading Economic Indicators, June, est. 0.5% (prior 0.5%)
  • 1pm: Baker Hughes rig count

 

GOVERNMENT:

    • House, Senate out
    • 12pm: Congressional Internet Caucus Advisory Cmte holds panel discussion on NSA surveillance programs
    • UN Security Council holds emergency meeting on MH17 crash, may take place at 3pm
    • U.S. Election Wrap: Colo. Dead Heat; Immigration Concerns

 

WHAT TO WATCH:

  • Ukraine, Russia point fingers over downed Malaysia plane
  • United Nations Security Council to discuss MH17 crash
  • Israeli forces carry out Gaza entry via land, sea
  • AbbVie to buy Shire Pharmaceutical for $55b in cash, stock
  • Line said to seek U.S. IPO with confidential SEC filing
  • McDonald’s workers claim co. fired them for union activity
  • American Apparel investor said to be close to buying loan
  • DoJ alleges FedEx role in delivering misbranded drugs
  • SEC looking at 10 firms in probe of high-speed trading
  • Microsoft job cuts provoke Finnish demands of worker support
  • Energy Future lenders gang up to force talks on rival plan
  • Amazon considering subscription service for e-books: NYPost
  • Union plans more strikes at 9 German Amazon sites: Bild
  • Petsmart talking with investment banks amid activism: WSJ
  • Twitter to roll out 4 new metrics with earnings: WSJ
  • CBS interested in CNN purchase if channel becomes available
  • DirecTV offering NFL package via web at 10 universities
  • IMF, Home Sales, Apple, Facebook, Ifo: Week Ahead July 19-26

 

EARNINGS:

    • Bank of New York Mellon (BK) 6:30am, $0.57
    • First Horizon National (FHN) 7am, $0.16
    • General Electric (GE) 6:30am, $0.39 - Preview
    • Honeywell Intl (HON) 7am, $1.36 - Preview
    • Huntington Bancshares (HBAN) 5:55am, $0.18
    • Interpublic Group (IPG) 7am, $0.25
    • Johnson Controls (JCI) 7am, $0.83
    • Kansas City Southern (KSU) 8am, $1.17
    • Laboratory of America (LH) 7:03am, $1.77 - Preview
    • VF Corp. (VFC) 7am, $0.35 - Preview

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI, Brent Set for First Weekly Gain in a Month on Ukraine, Gaza
  • Gold Declines as Investors Weigh Dollar Against Global Tensions
  • Cocoa Grinding in Asia Climbs as Demand for Chocolate Increases
  • Glencore’s Woman Director Marks Progress for Mining: Commodities
  • ANZ Tightened China Commodity Financing Processes ‘A Little’
  • WTI Crude Seen Rising in Survey on Falling U.S. Supplies
  • MORE: Shanghai Exchange Copper Stockpiles Rise 29% to 108,851 Mt
  • Ban on U.S. Oil Exports Seen Dying One Ruling at a Time: Energy
  • Corn Volatility Rises as Options Traders Bet on Price Rally
  • Wheat Set for Weekly Climb as Investors Assess Black Sea Outlook
  • Buzzard Field Power Restored After July 13 Outage, Nexen Says
  • Colorado Governor Says He Opposes Measures Restricting Drilling
  • Kurdish Oil Grab Fuels Independence Dream as Iraq Unravels
  • Copper Traders Bearish for a Second Week as Supplies Seen Ample

 

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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