THE HEDGEYE DAILY OUTLOOK

10/01/13 09:22AM EDT

TODAY’S S&P 500 SET-UP – October 1, 2013


As we look at today's setup for the S&P 500, the range is 27 points or 0.39% downside to 1675 and 1.22% upside to 1702.                               

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: 2.30 from 2.29
  • VIX closed at 16.6 1 day percent change of 7.37%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:45am: ICSC weekly sales
  • 8:55am: Johnson/Redbook weekly sales
  • 8:58am: Markit US PMI Final, Sept. (est. 53.1)
  • 10am: Construction Spending M/m, Aug. (est. 0.4%, pr 0.6%)
  • 10am: ISM Manufacturing, Sept. (est. 55.0, prior 55.7)
  • 10am: ISM Prices Paid, Sept. (est. 55.0, prior 54.0)
  • 4:30pm: API weekly oil inventories

 GOVERNMENT:

    • Obamacare insurance marketplaces open for enrollment, whether or not federal govt shuts down
    • U.S. Supreme Court may say whether it will consider Argentina’s appeal of lower-court decision on debt payments
    • Microsoft holds discussion on changes in immigration policy that would benefit the economy, with Labor Dept Chief Economist Jennifer Hunt, 8:30am
    • World Bank President Jim Yong Kim will speak about global poverty, bank’s efforts to end most extreme forms by 2030 a week before the bank’s annual meeting, 11am
    • Officials from Comcast, Cisco and Toyota testify before House Subcmte on Communications and Tech hearing on using spectrum in the 5 GHz band, 10:30am

WHAT TO WATCH:

  • U.S. govt. shutdown idles 800k as Congress spars on Obamacare
  • ROUNDUP: U.S. shutdown begins as deadlocked Congress flails
  • Shutdown confrontation may take momentum from standoff on debt
  • Cameron says U.S. government shutdown is risk to world economy
  • Shutdown would cost U.S. economy $300m/day, IHS says
  • Health exchanges begin enrollment, some delays expected
  • JPMorgan employee said to be cooperating in U.S. RMBS probe
  • Labor Day quirk hit auto sales for Sept., analysts say
  • Google said to avoid U.S. antitrust challenge over Waze deal
  • Google offer paves way for end to antitrust clash: Almunia
  • Activision may seek shareholder vote on Vivendi buyout
  • Dish reaches extension w/ Disney, avoids ESPN/ABC blackout
  • Wells Fargo agrees to $869m settlement with Freddie Mac
  • Toyota loses bid to get acceleration-injury suit thrown out
  • CFTC enforcement chief David Meister to step down this month
  • China Sept. manufacturing index rises less than forecast
  • Euro-Area jobless rate unexpectedly declines
  • Abe confirms Japan to compile JPY5t stimulus plan
  • KKR buys 10% of appliance maker Haier in biggest China deal
  • Cooper Tire shrholders vote to accept merger with Apollo Tyres
  • Amazon to hire 70,000 seasonal workers to meet holiday demand
  • Intel’s Eric Huggers seen as Hulu CEO candidate: N.Y. Post
  • Indigo Partners agrees to buy Frontier Airlines: WSJ
  • Intel to buy Sensory Networks for about $20m: WSJ

EARNINGS:

    • Actuant (ATU) 7:25am, $0.50
    • Acuity Brands (AYI) 8:25am, $1.02 - Preview
    • Global Payments (GPN) 4:01pm, $0.95
    • Walgreen (WAG) 7:30am, $0.73 - Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Copper Falls on Concern U.S. Government Shutdown to Sap Demand
  • Biggest Raw-Materials Rally of Year Seen Stalling: Commodities
  • WTI Crude Drops a Third Day as U.S. Government Shutdown Begins
  • Gold Futures Fall Below $1,300 an Ounce on Comex
  • Soybeans Drop on Higher U.S. Supply as Corn Hits Three-Year Low
  • Sugar Falls After Rally Before Record Delivery; Coffee Advances
  • India’s Gold Imports Seen Declining on Curbs to Contain Deficit
  • Coffee Held by Vietnam Farmers Climbs to Highest Since 2009
  • Brazil Sugar Exports to China Advance to Record, ITC Data Show
  • Exploding Fuel Tankers Driving U.S. Army to Solar Power: Energy
  • Diesel Tankers Turning Profitable After Five-Year Rout: Freight
  • Saudi Arabian Oil Output Soars to Highest on Record: BI Chart
  • Chile, Peru Dominate New Copper Supply as Africa, Asia Trail
  • Stocks Rally Most Since ’12 in Quarter, Beating Dollar, Bonds
  • MKS Sees Its Physical Gold Sales Reaching Record on Asia Demand

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

© 2024 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.