THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – August 27, 2014


As we look at today's setup for the S&P 500, the range is 31 points or 1.00% downside to 1980 and 0.55% upside to 2011.                                                                

                                                               

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: 1.86 from 1.90
  • VIX closed at 11.63 1 day percent change of -0.60%

 

MACRO DATA POINTS (Bloomberg Estimates):            

  • 7am: MBA Mortgage Applications, Aug. 22 (prior 1.4%)
  • 10:30am: DOE Energy Inventories
  • 11:30am: U.S. to sell $13b 2Y FRN reopening
  • 1pm: U.S. to sell $35b 5Y notes

 

GOVERNMENT:

    • Senate, House out on August recess
    • 10am: SEC meeting on whether to adopt rules revising disclosure, reporting and offering process for asset-backed securities
    • 10am: CBO to update 10-year budget outlook, followed by 11am news conference with CBO officials
    • U.S. ELECTION WRAP: Hagan and Obama; Parties’ Digital Strategies

 

WHAT TO WATCH:

  • Apple said to prepare new 12.9-inch iPad for early next year
  • Covidien holder sues to block $42.9b Medtronic deal
  • Repsol said stalled in Talisman energy assets buy talks: WSJ
  • Credit raters to face new conflict restictions under SEC rules
  • Snapchat said near funding with Kleiner at $10b valuation
  • Fyffes, Chiquita target additional cost savings from deal
  • NYSE promotes Arca chief amid broader management changes
  • Apollo’s Momentive gets conditional bankruptcy plan approval
  • Heartbleed hack still threat to big cos. 6 months later
  • FreedomPop gets ‘acquisition interest’ from 2 mobile carriers
  • Weyerhaeuser to move headquarters to Seattle’s Pioneer Square
  • Putin calls Ukraine summit positive as political talks start
  • Dubai World said to agree on $10b deal with creditors

 

AM EARNS:

    • Brown Shoe (BWS) 7am, $0.35
    • Brown-Forman (BF/B) 7:30am, $0.72
    • Canadian Western Bank (CWB CN) 8:30am, C$0.70 - Preview
    • Chico’s (CHS) 7:31am, $0.26
    • Donaldson (DCI) 6am, $0.47
    • Express (EXPR) 7am, $0.00
    • Natl Bank of Canada (NA CN) 7:15am, C$1.11 - Preview
    • Tiffany & Co (TIF) 6:59am, $0.85 - Preview
    • Yingli Green Energy (YGE) 6am, $(0.16)

 

PM EARNS:

    • Bally Technologies (BYI) 4:01pm, $1.20
    • Greif (GEF) 4:06pm, $0.81
    • Guess (GES) 4:03pm, $0.29
    • Lannett (LCI) 4:04pm, $0.58
    • Williams-Sonoma (WSM) 4:05pm, $0.53
    • Workday (WDAY) 4:02pm, $(0.14)

               

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Palm Seen by Mistry at Risk of Decline as Prices Drop to ’09 Low
  • Switzerland Combats Counterfeit Cheese With DNA Fingerprinting
  • Sugar Seen Needing Deeper Shortages to Ensure Recovery in Prices
  • WTI Trades Near Three-Day High Before Supply Data; Brent Steady
  • Philippines May Rerun Rice Tender After Prices in Sale Too High
  • Sugar Reserves in China May Climb to 9.4M Tons by Sept. 30: Liu
  • Cooking Oil Prices May Recover on Biofuel Demand, Oil World Says
  • Rubber in Tokyo Rebounds as Yen Weakens After U.S. Goods Data
  • Iron Ore May Recover Close to $100/T Toward Year-End, ANZ Says
  • Rusal Offering Japan Buyers $460 Aluminum Premium
  • Palm Oil Futures Trade Near Five-Year Low as Ringgit Strengthens
  • Rebar Falls to Record Low as Iron Ore Slumps on Port Inventory
  • Russia Poultry Prices Surge Amid Imported Meat Ban: Vedomosti
  • Steelmakers Hurting Profits by Chasing Sales, Roland Berger Says
  • Coffee Extends Gains on Brazil Dry Weather Concern; Sugar Rises

 

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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