TODAY’S S&P 500 SET-UP - November 5, 2010
As we look at today’s set up for the S&P 500, the range is 36 points or -2.54% downside to 1190 and 0.4% upside to 1226. Equity futures are trading lower tracking an early sell off among European equities and ahead of the key US jobs data due later. Concerns over the state of the economies of Spain and Ireland linger over markets. The focus will be on the Oct employment report at 08:30 ET. Sep Pending Home Sales
- Activision Blizzard (ATVI) 3Q adj. EPS beat est.; raised 2010 adj. revenue, EPS forecasts
- Atmel (ATML) 3Q adj. EPS, rev. beat ests.
- Blue Nile (NILE) 3Q EPS beat ests., sees 4Q rev in-line with ests.
- CBS (CBS) adj. EPS, rev, missed ests.
- Crocs (CROX) 3Q adj. EPS beat est.
- Dolby Laboratories (DLB) 4Q adj. EPS beat ests.; Forecast 2011 rev. below est. (may not compare)
- Fluor (FLR) forecast 2011 EPS midpoint below ests., boosted share buyback
- JDS Uniphase (JDSU) 1Q adj. rev. missed est.
- KKR Financial (KFN) 3Q adj. EPS beat est.
- Kraft Foods (KFT) 3Q adj. EPS beat est.
- Sotheby’s (BID) 3Q loss narrower than est.
- Starbucks (SBUX) boosted 2011 EPS forecast. 3Q adj. EPS beat est.
- One day: Dow +1.96%, S&P +1.93%, Nasdaq +1.46%, Russell 2000 +2.56%
- Month-to-date: Dow +2.85%, S&P +3.19%, Nasdaq +2.79%, Russell +4.28%.
- Quarter-to-date: Dow +6.00%, S&P +7.00%, Nasdaq +8.81%, Russell +8.48%.
- Year-to-date: Dow +9.65%, S&P +9.50%, Nasdaq +13.58%, Russell +17.28%
- Sector Performance: Financials +3.4%, Materials +3.3%, Energy +3%, Industrials +2.2%, Tech +1.6%, Consumer Disc +1.6%, Telecom +1.4%, Consumer Spls +1.2%, Utilities +1%, Healthcare +0.4%
- MARKET LEADING/LAGGING STOCKS YESTERDAY: Whole Foods +15.10%, NY Times +8.28% and Dr Horton +7.78%/Apollo -8.03%, Big Lots -6.84% and Expedia -5.26%.
- ADVANCE/DECLINE LINE: 2050 (+1597)
- VOLUME: NYSE - 1374.71 (+24.59%)
- VIX: 15.52 -5.32% - YTD PERFORMANCE: (-14.58%)
- SPX PUT/CALL RATIO: 1.73 from 1.97 -12.18%
CREDIT/ECONOMIC MARKET LOOK:
- TED SPREAD: 17.20 0.102 (0.594%)
- 3-MONTH T-BILL YIELD: 0.13%
- YIELD CURVE: 2.08 from 2.20
- CRB: 312.30 +2.37%
- Oil: 86.49 +2.13% - BULLISH
- COPPER: 391.20 +3.36% - BULLISH
- GOLD: 1,380.60 +3.25% - BULLISH
- EURO: 1.4191 +1.08% - BULLISH
- DOLLAR: 75.882 -0.78% - BEARISH
- FTSE 100: (0.06%); DAX +0.06%; CAC 40 +0.05%
- European markets fail to keep meagre opening gains and are trading lower led by weakness in the Oils, Retail and Utilities sectors as profit taking kicks in.
- Oct Germany Construction PMI at 04:30 ET
- Oct UK PPI input at 05:30 ET
- Oct UK PPI output at at 05:30 ET
- Sep Eurozone Retail Sales at 06:00 ET
- Sep Germany Factory Orders at 07:00 ET
- Nikkei +2.86%; Hang Seng +1.39%; Shanghai Composite +1.38%
- Major Asian markets ended higher, continuing the global rally in response to the Federal Reserve’s quantitative easing announcement.
- Singapore is closed for Deepavali.
- Japan leaves overnight call rate target unchanged