TODAY’S S&P 500 SET-UP – September 5, 2014
As we look at today's setup for the S&P 500, the range is 29 points or 1.03% downside to 1977 and 0.42% upside to 2006.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 1.91 from 1.92
- VIX closed at 12.64 1 day percent change of 2.27%
MACRO DATA POINTS (Bloomberg Estimates):
- 8:30am: Change in Nonfarm Payrolls, Aug., est. 230k (pr 209k)
- Unemployment Rate, Aug., est. 6.1% (prior 6.2%)
- 1pm: Baker Hughes rig count
- 3:45pm: Fed’s Rosengren speaks in Boston
GOVERNMENT:
- Senate, House out on final week of summer recess
- President Obama views fly-over ceremony, attends NATO summit in Wales, holds press conference, returns to Washington
- 10am: Nebraska Supreme Court hears constitutionality arguments on Keystone XL pipeline route through state
- U.S. ELECTION WRAP: Kansas Senate Race; Koch-Backed Ads
WHAT TO WATCH:
- Jobs-Day guide: U.S. payrolls, participation, wages and hours
- Barclays, Citigroup accused in suit of manipulating ISDAfix
- Apple plans new security features after hack of celebrity photos
- Ukraine ready for truce as NATO cautions on Russian peace offer
- Gap falls as August same-store sales trail analysts’ estimates
- Keryx has 82% chance of winning FDA Zerenex approval: analysts
- Nvidia sues Samsung, Qualcomm after patent deal talks fail
- German industrial production expands in sign of eco. rebound
- Eurozone GDP stagnates in 2Q; flash reading unchanged q/q
- Median incomes fell for all but richest in 2010-13, Fed says
- Swaps rule requires $644b in collateral, regulator says
- Autonomy CFO told Lynch of "imaginary deals’’ before HP sale
- Dollar General’s Family Dollar bid may not be enough: Reuters
- Bain Capital’s Atento may start U.S. IPO next week: Reuters
- Apple files reality navigation patents: AppleInsider
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Long-Term Oil Demand to Slow Even With Higher China Consumption
- Copper Rises in London Before U.S. Jobs as Surplus Seen Elusive
- Chemical Boom at Risk as U.S. Ethane Heads Abroad: Commodities
- WTI Heads for Weekly Drop as Refiners Slow Rates; Brent Steady
- Raw Sugar Extends Drop to 7-Month Low While Arabica Coffee Falls
- Gold Is Little Changed Near 12-Week Low Before U.S. Jobs Data
- Sugar Output in India’s Biggest Producer Seen at Three-Year High
- Corn Rebounds as Cooler U.S. Temperatures Raise Frost Concern
- Russia Reports Outbreak of Classical Swine Fever in Southwest
- Rebar Posts Biggest Weekly Loss in 15 Months as Demand Wanes
- Palm Trims Biggest Weekly Gain Since November as Reserves Climb
- Pears Rot in Europe as Putin’s Retaliation Pushes Price Down 70%
- Copper Traders Most Bearish in Month as Demand Seen Stalling
- One Putin Ally Sells Stake in Chemical Maker to Son of Another
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
