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TODAY’S S&P 500 SET-UP – August 11, 2014


As we look at today's setup for the S&P 500, the range is 57 points or 2.00% downside to 1893 and 0.95% upside to 1950.                                         

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: 1.99 from 1.98
  • VIX closed at 15.77 1 day percent change of -5.34%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • No major economic data expected
  • U.S. Rates Weekly Agenda
  • FX Weekly Agenda

GOVERNMENT:

    • Senate, House on Aug. recess
    • Fed Vice Chairman Stanley Fischer delivers speech on “The Great Recession: Moving Ahead” at conference in Stockholm; 3:15am
    • Washington Week Ahead

WHAT TO WATCH:

  • Kinder Morgan buys KMP, KMR, EPB in $44b deal
  • TPG said to match KKR’s $3.2b offer for Treasury Wine
  • Wall St. said to seek clarity on regulators’ loan guidelines
  • GM loses bid to throw out ignition suit that spurred recalls
  • Sanofi to pay MannKind as much as $925m for insulin
  • Amazon takes on Disney’s superheroes in online pricing fight
  • Lions Gate wins injunction over ‘Expendables 3’ Web downloads
  • Microsoft introduces Nokia 130 mobile phone at EU19
  • Putin praises alliance w/Exxon as Arctic drilling starts
  • LinkedIn sees marketing solutions as $1b business by 2017
  • Maliki deploys troops in Baghdad as govt talks fail
  • Israel, Palestinians observe new truce as longer accord sought
  • China monetary loosening tests effectiveness of credit

AM EARNS:

    • Dean Foods (DF) 8am, $(0.06)
    • Gogo (GOGO) 7:30am, $(0.23)
    • Hawaiian Electric (HE) 6am, $0.38
    • Opko Health (OPK) 9:02am, $(0.09)
    • Priceline (PCLN) 7am, $12.02 - Preview
    • Sysco (SYY) 8am, $0.50
    • Ventas (VTR) 7:37am, $0.45

PM EARNS:

    • Caesars Entertainment (CZR) 4:01pm, $(1.27)
    • Forest Oil (FST) 5:02pm, $(0.02)
    • Globalstar (GSAT) 4:05pm, $(0.04)
    • Halozyme Therapeutics (HALO) 4:15pm, $(0.16)
    • Inter Parfums (IPAR) 4:05pm, $0.22
    • Legacy Oil + Gas (LEG CN) Aft-Mkt, C$0.09
    • MannKind (MNKD) 4pm, $(0.11)
    • MasTec (MTZ) 4:58pm, $0.40
    • Mindray Medical Intl (MR) 5pm, $0.55
    • Nuance Communications (NUAN) 4:01pm, $0.27
    • ParkerVision (PRKR) 4:01pm, $(0.03)
    • PDL BioPharma (PDLI) 4:02pm, $0.52
    • Rackspace Hosting (RAX) 4:01pm, $0.16
    • Resolute Energy (REN) 5:51pm, $0.01
    • Towerstream (TWER) 4pm, $(0.10)

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Brent Trades Near 9-Month Low After U.S. Iraq Strike; WTI Steady
  • Gold Falls in London as Investors Weigh Signs Tensions Easing
  • Wheat Bears Retreat as Black Sea Supply Risks Mount: Commodities
  • Hedge Funds Snub Natural-Gas Rally as Supply Gains Loom: Energy
  • Rubber in Tokyo Extends Drop on Concern Supply Outpacing Demand
  • Palm Oil Inventories Climb From One-Year Low as Output Increases
  • Nonghyup Feed Tenders to Buy as Much as 140,000 Tons of Corn
  • Aluminum Advances to Two-Week High as Stockpiles Shrink Further
  • U.S. Steel Rebound Undermined by China Exports: Chart of the Day
  • Australia Seeks Clarity on Goods Heading to Russia After Ban
  • U.S. Gasoline Declines to $3.5206 a Gallon in Lundberg Survey
  • California Drought Transforms Markets as Growers See Dry Future
  • JPMorgan Skeptical as CSN Pledge Spurs Bond Surge: Brazil Credit
  • Copper Good Buy on Limited Aluminum Substitution: Morgan Stanley

 

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