THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – September 30, 2013

 

As we look at today's setup for the S&P 500, the range is 34 points or 1.23% downside to 1671 and 0.78% upside to 1705.            

                                                                                                                   

SECTOR PERFORMANCE


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EQUITY SENTIMENT:


THE HEDGEYE DAILY OUTLOOK - 10


CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.28 from 2.29
  • VIX closed at 15.46 1 day percent change of 9.96%

MACRO DATA POINTS (Bloomberg Estimates):

  • 9am: ISM Milwaukee, Sept. (prior 48.21)
  • 9:45am: Chicago Purchasing Mgrs, Sept., est. 54.3 (prior 53)
  • 10:30am: Dallas Fed Manufacturing Activity, Sept. (prior 5)
  • 11am: Fed to buy $1.25b-$1.75b notes in 2036-2043 sector
  • 11am: Fed to announce plans for Oct. debt purchases
  • 11:30am: U.S. to sell $25b in 3M bills, $25b 6M bills
  • 12pm: USDA 3Q agricultural-stock data
  • 4pm: USDA crop-condition reports

GOVERNMENT:

    • Federal government may run out of operating funds at midnight unless Congress agrees on stopgap funding bill
    • House Judiciary Committee hears testimony from Office of Information and Regulatory Affairs on regulatory reform, 4pm
    • Pentagon’s IG has flagged hundreds of deficiencies, corrective actions needed for Lockheed Martin’s F-35 fighter, the military’s costliest program; report might be issued as soon as today
    • USTR Michael Froman speaks on “Enhancing Transatlantic Trade and Investment” at event sponsored by the German Marshall Fund of the U.S., Brussels, 3pm
    • Toyota Chairman Takeshi Uchiyamada speaks on U.S., Japanese economies, global auto industry at event hosted by Economic Club of Washington, 8:10am

WHAT TO WATCH:

  • Govt shutdown a day away as deal evades U.S. lawmakers
  • Buffett poised to get $2b Goldman stake with warrants
  • Pacific Rubiales to buy Petrominerales for C$935
  • Twitter said to plan public IPO filing this week: WSJ
  • BP seeks to cut Gulf spill fines in trial set to begin today
  • Bard among vaginal mesh makers said in settlement talks
  • Mark Cuban goes to trial in SEC’s Mamma.com insider case
  • China Sept. manuf. gauge rises less than analysts forecast
  • Sirius holders can’t proceed with Liberty suit, judge rules
  • Euro-area Sept. inflation slows more than forecast on energy
  • Siemens CEO Kaeser cuts 15,000 jobs to catch up with GE, ABB
  • Letta defies Berlusconi as Italian government nears collapse

EARNINGS:

    • Cal-Maine Foods (CALM) 6:30am, $0.36
    • Diamond Foods (DMND) 4:01pm, $(0.03)
    • Omnova (OMN) 7am, $0.21
    • Park Electrchem (PKE) 6:30am, $0.28 (2 ests.)
    • Paychex (PAYX) 4:01pm, $0.43

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Climbs as Prospect of U.S. Government Shutdown Spurs Demand
  • Gold Bulls Raise Wagers Most in Month on Stimulus: Commodities
  • WTI Drops to Three-Month Low as U.S. Government Faces Shutdown
  • Copper Set for Best Quarter in More Than Year on China Optimism
  • Hedge Funds Cut Bullish Oil Bets to 12-Week Low: Energy Markets
  • Soybeans Drop as U.S. Shutdown Risk May Threaten Checks on Crops
  • Palm Oil in Malaysia Drops as Higher Output to Expand Stockpiles
  • China May Expand List of Qualified Gold Importers, PBOC Says
  • Golf Balls Fall Short Coping With 21st Century Disasters: Energy
  • Wheat Moving Average Signaling Further Rally: Technical Analysis
  • Mercuria Gas Bet Shows Traders See Gains in Romanian Market
  • Gas Price Prospects Finely Balanced in BI Winter 2013-14 Outlook
  • China’s Wheat Imports Seen Rising ‘Sharply’ by Grains Council
  • Rebar Advances First Time in a Week as Manufacturing Expands

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CURRENCIES


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GLOBAL PERFORMANCE


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EUROPEAN MARKETS


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ASIAN MARKETS


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MIDDLE EAST


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The Hedgeye Macro Team

 

 

 

 

 

 

 

 

 

 


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