THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – August 4, 2014


As we look at today's setup for the S&P 500, the range is 41 points or 0.22% downside to 1921 and 1.91% upside to 1962.                                                

                                                                               

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: 2.02 from 2.02
  • VIX closed at 17.03 1 day percent change of 0.47%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 9:45am: ISM New York, July (prior 60.5)
  • 11am: U.S. announces plans for auction of 4W bills
  • 11:30am: U.S. to sell $28b 3M bills, $25b 6M bills

 

GOVERNMENT:

    • 3-Day U.S.-Africa Summit in Washington, with the theme “Investing in the Next Generation.”
    • 8:15am: Secretary of State John Kerry convenes “Civil Society Forum”
    • 8:30am: GM hosts “expanding access to power across Africa” with CEO Jeff Immelt, Ghana President John Dramani Mahama, Standard Bank co-CEO Sim Tshabalala, World Bank President Jim Yong Kim
    • 8:30am: USTR Michael Froman hosts African Growth and Opportunity Act Ministerial
    • 9:30am: South African President Jacob Zuma delivers keynote address at U.S. Chamber of Commerce U.S.-South Africa Business and Investment Forum

 

WHAT TO WATCH:

  • TPG said to start raising $12b fund after boom-era busts
  • Buffett waits on fat pitch as Berkshire cash passes $50b
  • Evercore to purchase ISI for as much as $406m
  • Israel announces 7-hour cease-fire as diplomatic efforts falter
  • Portugal announces $6.6b Banco Espirito Santo rescue
  • KKR lifts bid for Grange-maker Treasury Wine 11% to $3.2b
  • Marvel’s ’Guardians’ prove cinema superhero with $94m
  • Goldman Sachs hires former Barclays mergers head Parker
  • Crown Resorts pays $280m for Las Vegas Strip site
  • McDonald’s to resume full menu in Chinese cities this week
  • BARRON’S ROUNDUP: ETF Risks, EMC, D.R. Horton, Twitter, DSW
  • China urges Microsoft not to hinder anti-monopoly probe: Xinhua
  • Canada equity markets closed for holiday

 

AM EARNS:

    • Alere (ALR) 7:30am, $0.59
    • BroadSoft (BSFT) 7:30am, $0.24
    • Cardinal Health (CAH) 7am, $0.81
    • CNA Financial (CNA) 6am, $0.82
    • Henry Schein (HSIC) 7am, $1.33
    • Ironwood Pharma (IRWD) 7:05am, $(0.36)
    • Isis Pharmaceuticals (ISIS) 8:30am, $(0.12)
    • Kosmos Energy (KOS) 9:15am, $0.13
    • Loews (L) 6am, $0.67
    • Michael Kors (KORS) 7am, $0.81 - Preview
    • Realogy (RLGY) 6:45am, $0.57

 

PM EARNS:

    • Acxiom (ACXM) 4:05pm, $0.18
    • Alleghany (Y) 4:07pm, $7.71
    • American Homes 4 Rent (AMH) 5:30pm, $(0.01)
    • American Intl Group (AIG) 4:03pm, $1.06
    • Avis Budget (CAR) 4:05pm, $0.61
    • Concur Technologies (CNQR) 4:15pm, $0.16
    • Marathon Oil (MRO) 4:41pm, $0.75
    • McDermott Intl (MDR) 4:01pm, $(0.17)
    • MDU Resources (MDU) 5:30pm, $0.29
    • Mueller Water (MWA) 4:20pm, $0.11
    • PHH (PHH) 4:05pm, $(0.18)
    • Pioneer Natural (PXD) 4:05pm, $1.28
    • RetailMeNot (SALE) 4:02pm, $0.17
    • Rosetta Resources (ROSE) 5:05pm, $0.82
    • Tenet Healthcare (THC) 4:30pm, $0.01
    • Vornado Realty Trust (VNO) 4:52pm, $0.27

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Trades Near Six-Month Low Before Economic Data; Brent Holds
  • Wheat Climbs to Two-Week High Amid Europe Quality Concerns
  • Hedge Funds Cut Bullish Gold Wagers Most Since June: Commodities
  • Copper Pares Gains as Investors Shun Risk Amid Global Tensions
  • Empty Holiday Store Shelves Hinge on Clout of 120 L.A. Truckers
  • Palm Oil Drops as Soybeans Slump to Lowest in Almost Four Years
  • Shanghai Debuts Iron Ore, Thermal Coal Swaps Handled in Yuan
  • World Sugar Price Seen by ISO’s Orive Capped by Ample Inventory
  • Oil Bears Bet Right as Futures Retreat to Six-Month Low: Energy
  • Jonathan Spall Named Chair for Daily Platinum-Palladium Fixings
  • BofA’s Two-Hour Halt in Rosneft Trading Shows Sanction Confusion
  • Perth Mint Says Gold Sales Decline in July From Four-Month High
  • Africa Oil State Hooked on U.S. Fuel: Chart of the Day
  • Wheat Extends Climb to Two-Week High as Crop Prices Advance

 

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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