August 22, 2014
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 1.92 from 1.94
- VIX closed at 11.76 1 day percent change of -0.17%
MACRO DATA POINTS (Bloomberg Estimates):
- No major economic reports scheduled
- 10am: Fed’s Yellen at Kansas City Fed symposium at Jackson Hole, Wyo.
- 1pm: Baker Hughes rig count
- 2:30pm: ECB’s Draghi speaks at Jackson Hole
GOVERNMENT:
- President Obama on vacation on Martha’s Vineyard
- Senate, House out on August recess
- U.S. ELECTION WRAP: McConnell on Shutdowns; Ernst Policies
WHAT TO WATCH:
- Labor market at Jackson Hole forefront before Yellen speech
- Theory of tech replacing workers overblown: MIT J.H. paper
- Lew Says business tax reform best for addressing inversions
- Family Dollar said open to Dollar General deal with changes
- BofA seeks to prove Buffett’s call right after settlement
- Citigroup faces curbs on hedge fund sales after deal: WSJ
- Enbridge avoids U.S. review with plan to boost oil sands flow
- GM legal dept. investigated by U.S. on recall delay: WSJ
- Co. to halt production at Russian plant for 4 periods
- Home Depot U.S. president Menear to succeed Blake as CEO
- IBM never stopped server sales to Chinese banks: China Daily
- GE says reports of FAA grounding of Air India 787 incorrect
- Keurig 2.0 to go on sale from Aug. 24: WSJ
- Aeropostale considers closing additional 175 stores
- Disney unveils new Star Wars game for mobile: NYT
- Lockheed meets with suppliers on lower F-35 costs: Reuters
- U.S.GDP, Housing, Ukraine, Tennis, Emmys: Wk Ahead Aug. 23-30
EARNINGS:
- Ann Inc. (ANN) 7:31am, $0.69
- Foot Locker (FL) 7am, $0.54 - Preview
- Hibbett Sports (HIBB) 6:30am, $0.31
- Royal Bank of Canada (RY CN) 6am, C$1.57 - Preview
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- WTI Oil Set for Longest Weekly Slide Since November; Brent Drops
- Gold Advances From Two-Month Low Before Central Bankers Speak
- Palm Oil Drops Below 2,000 Ringgit First Time Since 2009 on Glut
- Too Much Corn With Nowhere to Go as U.S. Farmers Plan for Record
- Chinese Zinc Threatens Biggest Jump in 5 Years: Chart of the Day
- Pacific Tropical Storm Marie May Strengthen to Hurricane Today
- Wheat Rises as World Supply Seen Less Ample on Lower Canada Crop
- MORE: Shanghai Exchange Copper Stockpiles Drop by Most Since May
- Copper Rises to Two-Week High on U.S. Home Sales: LME Preview
- Copper Set for Weekly Gain as U.S. Housing Data Beats Estimates
- WTI Crude Seen Rising on Falling Inventories in Analyst Survey
- First Crude Tanker Departs From Hound Point After Maintenance
- Gold Traders Most Bearish in Seven Weeks on U.S. Rate Outlook
- EU Natural Gas Traders Most Bullish in Six Weeks on Ukraine Risk
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
