prev

Ex-Energy Earnings Still Terrible

Takeaway: A total of 458/500 S&P 500 companies have reported aggregate sales and earnings growth down -2.4% and -8.7% respectively.

Ex-Energy Earnings Still Terrible - oil mlp

 

A total of 458/500 S&P 500 companies have reported aggregate sales and earnings growth down -2.4% and -8.7% respectively.

 

Here's the breakdown by sector:

 

  • So far, 6 of 10 sectors have reported negative sales and earnings growth;
  • Our favorite sector short, Financials (XLF), reported sales and earnings growth down -1.7% and -14.3%;
  • Energy (XLE) sales and earnings growth down -31.6% and -108.7% respectively;

 

Click image to enlarge

Ex-Energy Earnings Still Terrible - s p earnings 5 17


Daily Market Data Dump: Tuesday

Takeaway: A closer look at global macro market developments.

Editor's Note: Below are complimentary charts highlighting global equity market developments, S&P 500 sector performance, volume on U.S. stock exchanges, and rates and bond spreads. It's on the house. For more information on how Hedgeye can help you better understand the markets and economy (and stay ahead of consensus) check out our array of investing products

 

CLICK TO ENLARGE

 

Daily Market Data Dump: Tuesday - equity markets 5 17

 

Daily Market Data Dump: Tuesday - sector performance 5 17

 

Daily Market Data Dump: Tuesday - volume 5 17

 

Daily Market Data Dump: Tuesday - rates and spreads 5 17


[UNLOCKED] Keith's Daily Trading Ranges

We've made some new enhancements to Daily Trading Ranges - our proprietary buy and sell levels on major markets, commodities and currencies sent to subscribers weekday mornings by CEO Keith McCullough. Click here to view a brief video of McCullough explaining how to use it most effectively.

 

Subscribers now receive risk ranges for 20 tickers each day -  the last five of which are determined by what's flashing on Keith's screen and by what names subscribers are asking about. Click here to subscribe.

 

  • Bullish Trend
  • Bearish Trend
  • Neutral

INDEX BUY TRADE SELL TRADE PREV. CLOSE
UST10Y
10-Year U.S. Treasury Yield
1.80 1.70 1.75
SPX
S&P 500
2,038 2,082 2,066
RUT
Russell 2000
1,098 1,126 1,116
COMPQ
NASDAQ Composite
4,682 4,799 4,775
NIKK
Nikkei 225 Index
16,011 16,820 16,466
DAX
German DAX Composite
9,794 10,068 9,952
VIX
Volatility Index
13.55 17.43 14.68
USD
U.S. Dollar Index
93.11 94.99 94.55
EURUSD
Euro
1.12 1.15 1.13
USDJPY
Japanese Yen
106.44 109.99 109.07
WTIC
Light Crude Oil Spot Price
45.16 49.13 48.61
NATGAS
Natural Gas Spot Price
1.96 2.22 2.03
GOLD
Gold Spot Price
1,258 1,295 1,275
COPPER
Copper Spot Price
2.03 2.13 2.09
AAPL
Apple Inc.
89.99 95.01 93.88
AMZN
Amazon.com Inc.
657 720 710
MCD
McDonald's Inc.
127 132 129
XLU
Utilities Select Sector SPDR
48.41 49.92 49.45
GOOGL
Alphabet Inc.
700 740 730
FB
Facebook Inc.
116 121 118


the macro show

what smart investors watch to win

Hosted by Hedgeye CEO Keith McCullough at 9:00am ET, this special online broadcast offers smart investors and traders of all stripes the sharpest insights and clearest market analysis available on Wall Street.

INSTANT INSIGHT | Where We're Headed: U.S. Dollar, CRB Index & Gold

INSTANT INSIGHT | Where We're Headed: U.S. Dollar, CRB Index & Gold - dollar cartoon 07.02.2014 large 

Get the direction of the U.S. Dollar right, and you'll get most things in macro right. As we've noted before, the dollar has a material inverse correlation to the CRB index, gold, and the S&P 500. So, with the dollar up three of the last four weeks, that's been a major headwind for the "S&P is gonna rip to all-time highs" crew. It also helps explain why the S&P 500 has been down three straight weeks.

 

Where do we go from here?

 

Here's analysis via Hedgeye CEO Keith McCullough in a note sent to subscribers earlier this morning:

 

"Interestingly, but maybe not surprisingly, the US Dollar Index is starting to stabilize and signal a series of higher-lows (93.11 support) within its bullish long-term setup – consensus (CFTC futures/options) is positioned bearish USD and long Oil and Gold here."

 

 

Take a look at the chart of the CRB index. Upon closer inspection, the parallels between the commodities index and the U.S. Dollar are fairly obvious: 

  

"CRB Index (19 commodities) looks like the upside down of the USD on a 3yr look-back – inasmuch as USD would have to breakdown and hold below the 92-93 range, CRB would have to breakout above the 190-192 range and my math doesn’t see that happening anytime soon."

 

 

Then there's gold. We're still bullish ... but only at the right price.

 

 

More to be revealed.


CHART OF THE DAY | Correlation Risk: U.S. Dollar, CRB Index

Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.

 

"... Putting our immediate-term TRADE signal in the context of long-term TAIL risk:

  1. US Dollar Index would have to sustain a break-down through the 92-93 level
  2. CRB Commodities Index would have to sustain a break-out (on accelerating volume) through the 190-192 level

*As of this morning, the US Dollar Index and CRB Commodities Index are trading at 94.55 and 185, respectively."

 

CHART OF THE DAY | Correlation Risk: U.S. Dollar, CRB Index - 05.17.16 EL Chart


Cartoon of the Day: Cheap, Cheap, Cheap...

Cartoon of the Day: Cheap, Cheap, Cheap... - Cheap cartoon 05.16.2016

 

"I still say short what appears to be “cheap” and keep buying what continues to get more expensive," Hedgeye CEO Keith McCullough wrote in this morning's Early Look.


GET THE HEDGEYE MARKET BRIEF FREE

Enter your email address to receive our newsletter of 5 trending market topics. VIEW SAMPLE

By joining our email marketing list you agree to receive marketing emails from Hedgeye. You may unsubscribe at any time by clicking the unsubscribe link in one of the emails.

next