THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – August 13, 2014


As we look at today's setup for the S&P 500, the range is 57 points or 2.31% downside to 1889 and 0.63% upside to 1946.                                                    

                                                                           

SECTOR PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 1

 

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 9

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.03 from 2.02
  • VIX closed at 14.13 1 day percent change of -0.70%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 5:30am: Bank of England’s Carney presents inflation report
  • 7am: MBA Mortgage Applications, Aug. 8 (prior 1.6%)
  • 8:30am: Retail Sales Advance m/m, July, est. 0.2% (prior 0.2%)
  • 9:05am: Fed’s Dudley speaks in New York
  • 9:20am: Fed’s Rosengren speaks in New York
  • 10am: Business Inventories, June, est. 0.4% (prior 0.5%)

 

GOVERNMENT:

  • House/Senate on Aug. Recess; President Obama on Martha’s Vineyard
  • 10am: National Business Group on Health briefing on large employers 2015 health plan design changes
  • 11:30am: Bloomberg Intelligence holds webinar on corporate inversions, Washington backlash
  • U.S. ELECTION WRAP: Ad Wars; Game Changers in Mich., Alaska

 

WHAT TO WATCH:

  • Yahoo ordered to face user privacy claims over scanned e-mail
  • Cisco CEO pressured by Verizon, Goldman to adopt software
  • Amazon prices seen holding regulators at bay in Hachette spat
  • Amazon to challenge Square w/credit-card reader, mobile app
  • Alibaba said to target IPO roadshow starting Sept. 3 in Asia
  • Alibaba sells loan unit to Alipay parent in pre-IPO shuffle
  • WellPoint to change name to Anthem as consumer mkting rises
  • Ocwen, Altisource, HLSS put on review for downgrade at Moody’s
  • Consumer activists put pressure on retailers to drop Triclosan
  • Indiana suit challenging Obamacare tax-credit rule goes ahead
  • Cotton extending rout as inventories climb most since 1986
  • Former U.S. attorney to monitor Toyota’s safety practices
  • China credit gauge plunges as industrial-output growth slows
  • U.K. wages post first drop since 2009 as jobless rate falls
  • Iran joins U.S. in backing replacement for Iraq’s Maliki
  • Russia convoy nears border as Ukraine, Red Cross set demands
  • Israel primes for more Gaza fighting as cease-fire winds down

 

AM EARNS:

  • Bankers Petroleum (BNK CN) 7am $0.10
  • CAE (CAE CN) 8:44am, C$0.18
  • Canadian Solar (CSIQ) 6am, $0.58
  • Crescent Point Energy (CPG CN) 8am C$0.38
  • Deere & Co (DE) 7am, $2.20 - Preview
  • EZchip Semiconductor (EZCH) 8am $0.34
  • First Majestic Silver (FR CN) 7am, $0.06
  • InterOil (IOC) 6am, $0.11
  • Macy’s (M) 8am, $0.86 - Preview
  • Metro (MRU CN) 7am, C$1.64
  • Onex (OCX CN) 7am $0.94
  • Pinnacle Foods (PF) 8:15am, $0.33
  • SeaWorld Entertainment (SEAS) Bef-mkt, $0.58

 

PM EARNS:

  • Aegean Marine Petroleum (ANW) 4:15pm $0.20
  • Aimia (AIM CN) 6:28pm C$0.25
  • Aspen Technology (AZPN) 4:10pm $0.21
  • Cisco Systems (CSCO) 4:05pm $0.53 - Preview
  • Energy XXI Bermuda (EXXI) 4:15pm $0.24
  • Iamgold (IMG CN) 5:04pm $0.03
  • NetApp (NTAP) 4:01pm, $0.57
  • NetEase (NTES) 5pm $1.46
  • Real Goods Solar (RGSE) 4:05pm, ($0.10)
  • Silver Wheaton (SLW CN) 5:06pm $0.20
  • Vipshop Holdings (VIPS) 4:01pm, $0.63
  • WuXi PharmaTech Cayman (WX) 4:30pm $0.47

                                                                                                                               

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • World Awash in Oil Shields Markets From 2008 Price Shock: Energy
  • Indonesia to Retain Ore Export Ban Amid $18 Billion Investment
  • Sumitomo Joins Goldman Seeing Aluminum Market Swing Into Deficit
  • Blue $25.6 Million Diamond Hints at Earth’s Origins: Commodities
  • EU Milk Producers Squeezed as Russian Cheese Ban Cuts Top Market
  • Brent Falls to 13-Month Low Amid Signs China Slowing; WTI Steady
  • Copper at Six-Week Low as Metals Slide on China Growth Concern
  • Kazakhs to Hoard Food as Putin’s Sanctions Rattle Trade Alliance
  • China’s Henan Said to Ask Banks to Support Coal, Solar Companies
  • Sugar Rises in London on Brazil Harvest Concern; Coffee Gains
  • LNG Spot Price in NE Asia Rises on Australia Tender Award: WGI
  • Gold Imports by India Seen Dropping 15% as Rajan Protects Rupee
  • Gold Is Little Changed Below 3-Week High on U.S. to Ukraine
  • Europe’s Green Energy Rules Cost U.K. $156 Billion, Group Says

 

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 - 10

 

 

The Hedgeye Macro Team

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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