TODAY’S S&P 500 SET-UP – August 5, 2014
As we look at today's setup for the S&P 500, the range is 25 points or 0.84% downside to 1904 and 0.46% upside to 1929.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 1.99 from 2.02
- VIX closed at 16.87 1 day percent change of 11.57%
MACRO DATA POINTS (Bloomberg Estimates):
- 7am: MBA Mortgage Applications, Aug. 1 (prior -2.2%)
- 8:30am: Trade Balance, June, est. -$44.8b (prior -$44.4b)
- 10:30am: DOE Energy Inventories
GOVERNMENT:
- Final day of U.S.-Africa Summit:
- 10am: Session on “Investing in Africa’s Future”
- 12:30pm: Session on “Peace and Regional Stability”
- 2:30pm: Session on “Governing for the Next Generation”
- 5pm: President Obama holds news conference
- Republican CFTC Commissioner Scott O’Malia to step down
WHAT TO WATCH:
- Sprint said to end T-Mobile discussions, to name new CEO
- Murdoch’s Fox withdraws $75b offer for Time Warner
- Walgreen said not to exit U.S. in buying rest of Boots
- Walgreen to provide update on Alliance Boots deal ~6am
- Apple, Samsung strike deal to end patent suits outside U.S.
- China said to leave Apple iPad, MacBook off purchasing list
- Cerner to buy Siemens health data business for $1.3b
- Standard Chartered sees further penalty on new compliance issues
- StanChart profit falls; sees challenging 2H ahead
- Disney profit tops ests. as feature films spark studio gains
- Groupon forecast trails ests. as e-commerce transition drags
- Putin blasts sanctions as Poland cites Ukraine invasion risk
- German factory orders slump as geopolitical risks leave mark
- U.K. industrial production increases less than forecast
- Goldman, Deutsche Bank said near deal for Greek buyout firm
- Bats said in SEC settlement talks over high-speed-trading perks
- Capital One sent subpoenas in New York’s money-laundering probe
- Italian economy contracted 0.2% q/q in 2Q; est. +0.1%
AM EARNS:
- Alpha Natural Resources (ANR) 7am, $(0.74)
- AOL (AOL) 7am, $0.45
- Ariad Pharmaceuticals (ARIA) 7:35am, $(0.29)
- Athabasca Oil (ATH CN) 6am, C$(0.05)
- Avnet (AVT) 8am, $1.11
- CenterPoint Energy (CNP) 8:15am, $0.24
- Chesapeake Energy (CHK) 7:01am, $0.44 - Preview
- Cognizant Technology (CTSH) 6am, $0.63 - Preview
- Denbury Resources (DNR) 7:30am, $0.27
- Devon Energy (DVN) 8am, $1.40 - Preview
- Diebold (DBD) 8:37am, $0.39
- Dish Network (DISH) 6:04am, $0.51 - Preview
- HollyFrontier (HFC) 7am, $0.95
- Molson Coors (TAP) 7:30am, $1.47
- Mondelez (MDLZ) 8am, $0.39 - Preview
- Nationstar Mortgage (NSM) 7am, $0.90
- Nu Skin Enterprises (NUS) 7:30am, $1.27
- Parker Hannifin (PH) 7:30am, $2.08
- Ralph Lauren (RL) 8:01am, $1.76 - Preview
- Rockwood (ROC) 6:28am, $0.50
- Rowan (RDC) 8am, $0.22
- Sinclair Broadcast (SBGI) 7:30am, $0.36
- Spectra Energy (SE) 6:30am, $0.30
- Synta Pharmaceuticals (SNTA) 7:01am, $(0.27)
- Time Warner (TWX) 7am, $0.84 - Preview
- Viacom (VIAB) 7am, $1.43 - Preview
- Visteon (VC) 7am, $0.71
- Voya Financial (VOYA) 6am, $0.70
PM EARNS:
- 21st Century Fox (FOXA) 4pm, $0.39
- Agrium (AGU CN) 4:13pm, $4.11 - Preview
- Alliant Energy (LNT) 6pm, $0.60
- American Capital (ACAS) 4:01pm, $0.18
- American Water Works (AWK) 4:15pm, $0.64
- Annaly Capital Mgmt (NLY) 4:05pm, $0.26
- Antero Resources (AR) 4:05pm, $0.37
- Atmel (ATML) 4:05pm, $0.09
- Babcock & Wilcox (BWC) 4:42pm, $0.49
- Brookdale Senior Living (BKD) 4:23pm, $0.06
- Celldex Therapeutics (CLDX) Aft-Mkt, $(0.32)
- CenturyLink (CTL) 4:05pm, $0.65
- Concho Resources (CXO) 5pm, $0.97
- Corrections of America (CXW) 4:15pm, $0.46
- Dun & Bradstreet (DNB) 4:15pm, $1.35
- Dynegy (DYN) 4:30pm, $(0.07)
- EnerSys (ENS) 4:01pm, $1.05
- Envision Healthcare (EVHC) 4:08pm, $0.25
- Franco-Nevada (FNV CN) 4pm, $0.23
- Gulfport Energy (GPOR) 4:05pm, $0.16
- Integrys Energy (TEG) 5:17pm, $0.46
- InterMune (ITMN) 4:01pm, $(0.56)
- Jack in the Box (JACK) 4:02pm, $0.57
- Keurig Green Mountain (GMCR) 4pm, $0.88
- Matador Resources (MTDR) 4:01pm, $0.30
- MBIA (MBI) 4:05pm, $(0.20)
- Molycorp (MCP) 4:04pm, $(0.23)
- Neurocrine Biosciences (NBIX) 4:01pm, $(0.18)
- Novavax (NVAX) 4:05pm, $(0.07)
- NPS Pharmaceuticals (NPSP) 4:30pm, $0.00
- Plains All American (PAA) 4:08pm, $0.50
- Prudential Financial (PRU) 4:07pm, $2.35
- QEP Resources (QEP) 4:30pm, $0.33
- Regency Centers (REG) 4:01pm, $0.16
- Sanchez Energy (SN) 4:30pm, $0.24
- SandRidge Energy (SD) 4:15pm, $0.04
- Sun Life Financial (SLF CN) 5:10pm, C$0.72 - Preview
- Symantec (SYMC) 4:01pm, $0.42
- Theravance (THRX) 4:05pm, $(0.41)
- Transocean (RIG) 4:15pm, $1.11
- Veresen (VSN CN) 4:22pm, C$0.04
- YY (YY) 4:01pm, $0.59
- Zulily (ZU) 4:05pm, $0.04
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- BHP Vows to Prevent Port Hedland Strike as Union Cites Impasse
- Goldman Sees Iron Ore Rout Extending as Supply Growth Quickens
- Iron Giants Graze Cows on Land Size of Connecticut: Commodities
- Marubeni Said to Invest in IPO of Meat And Dairy Supplier Japfa
- China Soy Imports Seen by Top Buyer Exceeding USDA Estimate
- Zinc Drops Amid Speculation Stronger Dollar Will Erode Demand
- Canada Canola Crop Proves Resilient as RBC Sees Price Declines
- U.K. Plans to Criminalize Energy-Market Rigging With New Laws
- Malaysia Delays Full Implementation of B5 Biodiesel Mandate
- Dirtiest Fuel Threatens 700-Year-Old Villages in Europe: Energy
- Russia Sanctions Failing to Stanch Energy Deals With Japan
- Rubber Drops on Demand Concerns as Thai Price at Five-Year Low
- U.K.’s Rothamsted Trial Set to Harvest GM Oilseed in Weeks
- Brent Oil Trades Near 9-Month Low on Slowing Economy; WTI Steady
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
