THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – August 8, 2014


As we look at today's setup for the S&P 500, the range is 36 points or 0.97% downside to 1891 and 0.91% upside to 1927.                                             

                                                                                  

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: 1.96 from 1.98
  • VIX closed at 16.66 1 day percent change of 1.77%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Non-farm Productivity, 2Q preliminary, est. 1.6% (prior -3.2%)
  • Unit Labor Costs, 2Q preliminary, est. 1.1% (prior 5.7%)
  • 10am: Wholesale Inventories m/m, June, est. 0.7% (prior 0.5%)
  • 1pm: Baker Hughes rig count

 

GOVERNMENT:

    • Senate, House on August recess
    • RNC holds annual summer meeting in Chicago
    • Last day to file comments on FDA e-cigarette/cigar regulations
    • 10:30am: FCC holds open meeting
    • U.S. ELECTION WRAP: Walsh Drops Out; Primaries Tonight; Hawaii

 

WHAT TO WATCH:

  • Obama pulled back into Iraq as militants threaten genocide
  • Dresser-Rand said to hire Morgan Stanley to prepare for bids
  • Ebola outbreak is public health risk to other nations, WHO says
  • Tekmira says U.S. may allow experimental Ebola drug
  • China said to remove Apple from buy list after pledge not made
  • Rockets fired at Israel as Hamas said to reject longer truce
  • News Corp. misses profit estimates as advertising sales decline
  • CBS profit beats estimates on buybacks as dividend is boosted
  • Zynga tumbles after cutting 2014 outlook on delays to new games
  • Lululemon founder Wilson sells half his stake, ending fight
  • Ukrainian bonds extend world’s worst selloff as NATO warns Putin
  • Wal-Mart denies claims used expired meat in China cooked food
  • China has record trade surplus as exports accelerate
  • Goldman, JPMorgan may appear at Levin hearing in Sept: Reuters
  • Yahoo to implement e-mail encryption next year: WPost
  • U.S. Retail Sales, Wal-Mart, Cisco: Week Ahead Aug. 9-16

 

EARNINGS:

    • Brookfield Asset Mgmt (BAM/A CN) 7:56am, $0.50
    • DiamondRock Hospitality (DRH) 8am, $0.25
    • Enerplus (ERF CN) 8:47am, C$0.30
    • EW Scripps (SSP) 7:30am, $0.05
    • HMS (HMSY) 7:30am, $0.12
    • Magna Intl (MG CN) 8am, $2.22
    • Magnum Hunter (MHR) 7am, $(0.17)
    • Pembina Pipeline (PPL CN) 4:50pm, C$0.27
    • Power Corp. of Canada (POW CN) 11:12am, C$0.70
    • Sirona Dental Systems (SIRO) 7am, $0.96
    • SNC-Lavalin (SNC CN) 8:29am, C$0.66
    • Sotheby’s (BID) 8am, $1.43

                                                                                                                               

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Crude Prices Rise as Obama Authorizes Airstrikes in North Iraq
  • Hermes Betting Against Zinc as Smelters in China to Boost Supply
  • Hambro’s Russian Gold Dream Runs Into Debt Mountain: Commodities
  • Gold Climbs to Three-Week High as Iraq Crisis Spurs Haven Buying
  • Industrial Metals Drop as Unrest Seen Threatening to Curb Demand
  • Pacific Hurricane Iselle Downgraded to Tropical Storm: Center
  • Dam Burst Threatens Canadian Mines Over Environmental Concerns
  • China Aluminum Exports at 3-Year High on Rising Overseas Prices
  • Gold Traders Most Bullish in 7 Months on Standoff Over Ukraine
  • Wheat Trims Weekly Advance as Investors Assess Supply Outlook
  • Iron Ore Busting 1.3 Billion Tons Spurs Boom for Ships: Freight
  • Gas Price Swings Signal Ukraine Supply Threat: Chart of the Day
  • Coffee Farmers in Vietnam Selling Inventories as Prices Advance
  • Gold Open Interest Points to 12% Price Decline: Chart of the Day
  • Coal’s Price Seen Stunted at Year-End Amid Supply Glut: Energy

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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