THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – September 12, 2014


As we look at today's setup for the S&P 500, the range is 15 points or 0.67% downside to 1984 and 0.08% upside to 1999.                                            

                                                                                   

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: 2.00 from 1.99
  • VIX closed at 12.8 1 day percent change of -0.62%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Retail Sales Advance, Aug., est. 0.6% (prior 0%)
  • 8:30am: Import Price Index, Aug., est. -1.0% (prior -0.2%)
  • 9:55am: UofMich Confidence, Sept. prelim. est. 83.3 (pr 82.5)
  • 10am: Business Inventories, July, est. 0.4% (prior 0.4%)
  • 1pm: Baker Hughes rig count

 

GOVERNMENT:

    • Senate, Congress out of session
    • 8am: Natl Assn of Federal Credit Unions wraps up congressional caucus mtg, with speakers incl. Treasury’s Gerety
    • 11:30am: Keith Higgins, director of SEC’s corp. fin. division. speaks at American Bar Assn mtg
    • 11:30am: FTC Chairwoman Ramirez delivers remarks at Hispanic National Bar Association annual convention
    • 7:30pm: Attorney General Eric Holder gives keynote address
    • U.S. ELECTION WRAP: Iowa Fuel Issue; NRSC Outlook; Ark. Debate

 

WHAT TO WATCH:

  • Citigroup’s Diners Club said to draw interest from Japan banks
  • BASF buys oil, gas assets from Statoil to secure European supply
  • China credit gauge misses estimate as growth risks rise
  • LinkedIn says China needs ‘open door’ for foreign internet firms
  • Alliance Data to buy Conversant for advertising technology
  • Bank moves to avoid overseas swap rules watched by U.S. treasury
  • Google taps biggest app market in effort to close Apple gap
  • Hertz reaches deal with billionaire Icahn to replace 3 directors
  • GE may invest in Polish wind farms amid renewable law changes
  • U.S. video-game industry sales rise 8% on consoles

 

EARNINGS:

    • BRP (DOO CN) 6am, C$0.08
    • Darden Restaurants (DRI) 7am, $0.32
    • Hudson’s Bay (HBC CN) 7am, (C$0.07)

               

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Wheat Extends Drop to Near Four-Year Low as Global Supply Climbs
  • WTI Oil Rises Second Day as Losses Seen Excessive; Brent Steady
  • China’s Coal Production Cuts Seen Lifting Prices by 10%: Energy
  • Tin Smelters in Indonesia Seeking $600 Premiums to London Rate
  • Zinc’s Advance Narrows Biggest Weekly Slump in Almost Two Years
  • Solar Storms Sending Biggest Threats to Earth Today and Tomorrow
  • Kurd Pipeline Only Realistic Route for Kirkuk Export: Julian Lee
  • MRPL to Process Basrah Light Crude First Time in About 15 Years
  • Zinc Rises to Pare Biggest Weekly Drop in 23 Months: LME Preview
  • Coffee to Cocoa Head for Weekly Declines on Stronger Dollar
  • China Coal Ban Plan Might Stop Dry-Bulk Freight Rebound: Platou
  • Chinese Delegation to Sign Soybean Purchase Pact With U.S.: News
  • Gold Traders Split on U.S. Outlook to Prospects for More Buying
  • Gold Falls to 7-Month Low as Silver Slumps on Outlook for Rates

 

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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