The Economic Data calendar for the week of the 3rd of August through the 8th of August is full of critical releases and events. Attached below is a snapshot of some of the headline numbers that we will be focused on.
In this excerpt from this morning’s macro call with institutional subscribers, Hedgeye CEO takes a granular walk through the worst day in the stock market all year.
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The super-charged tortoise...
"Feel great about the fundamentals of the business and positioning (the company) for this year and next year" Mr. Nassetta
Feel good about macro economic setup which in turn translates into an improved outlook and earnings guidance.
Takeaway: Management fired a warning shot for 2015, reinforcing our call that 2015 will be ugly. Consensus STILL doesn't get it, so we'll stay short
Let us know if you have any questions, or would like to discuss in more detail
Hesham Shaaban, CFA
Takeaway: This correction in U.S. growth expectations is real.
The Russell 2000 is down -3.7% year-to-date (and down -7.2% since the VIX bottomed July 7th).
This correction in U.S. growth expectations is real. Yesterday’s PMI print of 52.6 JUL (vs 62.6 JUN) was a friendly reminder that its not Q2 GDP that matters - #Q3Slowing does.
Editor's note: This is a brief excerpt from CEO Keith McCullough's morning research.
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