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Daily Market Data Dump: Wednesday

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, rates and bond spreads, key currency crosses, and commodities. 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

 

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Daily Market Data Dump: Wednesday - equity markets

 

Daily Market Data Dump: Wednesday - sector performance

 

Daily Market Data Dump: Wednesday - volume

 

Daily Market Data Dump: Wednesday - rates and spreads

 

Daily Market Data Dump: Wednesday - currencies

 

Daily Market Data Dump: Wednesday - commodities


CHART OF THE DAY: Another Ugly Economic Indicator... Should The Fed Raise Rates?

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.

 

"... Got the latest “transports” data?

  1. Class 8 new truck orders at the lowest level since August 2010 in both absolute and rate of change terms (-56% y/y)   
  2. NA total commodity carloads originated continues tracking down over -5% Y/Y since March 2015 – no bounce whatsoever
  3. Commodity carloads down -11% y/y. Largest commodity carload declines in Petroleum products (-22%) and Coal (-27%) which are obvious. Other areas of weakness are forest products (-7.5%), Metals (-6.1%), minerals (-3.6%), Farm/Food products (-3.4%)"

So maybe the Fed should “raise rates” today. That’s neither an empty nor a clever theory. That would just be dumb.

 

CHART OF THE DAY: Another Ugly Economic Indicator... Should The Fed Raise Rates? - 09.21.16 EL Chart


Pandora: 2 Reasons Why We’re Now Bullish (But Still Dislike The Company)

Hedgeye Internet & Media analyst Hesham Shabaan recommended shorting Pandora Media (P) from December 2014 until earlier this year. Recently, he’s flipped to the long side. For now. Shabaan explains why in this excerpt from The Macro Show yesterday.

 

Subscribe to The Macro Show today for access to this and all other episodes. 

 

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So Much For The Ackman Pop ... Next Stop For Chipotle? $250

Takeaway: The Chipotle shareholder carnage continues as investors fade disclosure of Bill Ackman's 9.9% stake.

So Much For The Ackman Pop ... Next Stop For Chipotle? $250 - chipotle ackman 

Hours after Hedgeye Restaurants analyst Howard Penney hosted his Chipotle (CMG) short call on September 6th, Bill Ackman's Pershing Square Capital disclosed a 9.9% stake in Chipotle. The stock jumped on the news. 

 

But then, as it often does, reality set in... Chipotle's shares are down -9% from the peak of the Ackman hype.

 

Just as Penney predicted hours after the news...

 

And to be clear, he's reiterating the call today.

 

hungry for more?

 

For a good overview of Penney's short call on the company see the CNN Money story, "Why Chipotle could crash another 50%." To read Penney and analyst Shayne Laidlaw's response to Ackman's Chipotle stake after it was disclosed read, "Pershing Has Stepped In Front of a Ticking Time Bomb."

 

Finally, below is short video in which Penney responds to an institutional client's question about the "smoking gun" that will ultimately take down Chipotle.

 

 


Cartoon of the Day: Hawkish or Dovish?

Cartoon of the Day: Hawkish or Dovish? - Fed hawkish dovish cartoon 09.20.2016

Incessant Fed flip-flopping from hawkish to dovish (6x in 8 months!?) is simply insane. What will they do at Wednesday's FOMC meeting? Tell us what you think by casting your vote in our Poll of the Day here.


PREMIUM INSIGHT

Best Idea Long: Why Expedia Holds All The Cards

Best Idea Long: Why Expedia Holds All The Cards - HETV macroshow thumb expedia 9.20.2016

In this excerpt from The Macro Show, Hedgeye Internet & Media analyst Hesham Shaaban lays out our Best Idea Long call on Expedia and why the company’s HomeAway acquisition is a “considerable opportunity” relative to Wall Street’s expectations.


Daily Trading Ranges

20 Proprietary Risk Ranges

Daily Trading Ranges is designed to help you understand where you’re buying and selling within the risk range and help you make better sales at the top end of the range and purchases at the low end.

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