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TODAY’S S&P 500 SET-UP – October 4, 2013


As we look at today's setup for the S&P 500, the range is 15 points or 0.46% downside to 1671 and 0.44% upside to 1686.                                                   

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: 2.31 from 2.30
  • VIX closed at 17.67 1 day percent change of 6.45%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Fed’s Fisher speaks on economy in Little Rock, Ark.
  • 9:15am: Fed’s Dudley to speak at New York Fed conference
  • 9:30am: Fed’s Stein to speak at repo conference in New York
  • 12:30pm: Fed’s Lacker to speak at conference in Baltimore
  • 1pm: Baker Hughes rig count
  • 1:45pm: Fed’s Kocherlakota speaks in Minn.

GOVERNMENT:

    • Fourth day of partial govt shutdown over budget impasse
    • Labor Dept said it won’t release employment data for Sept. because of shutdown; alternative date for report, usually released on first Friday of each month, hasn’t been scheduled

WHAT TO WATCH:

  • Twitter makes IPO filing public with implied $12.8b value
  • Twitter to be Goldman Sachs’s top U.S. technology IPO as lead
  • Twitter sends different message than Facebook in IPO filing
  • Boehner seeks Republican unity on debt-limit amid shutdown
  • Obama cancels Asia summit trip to try to bring end to shutdown
  • Fink, Gross see zero chance of U.S. debt default amid standoff
  • Fed hampered by dearth of data as officials weigh tapering QE
  • JPMorgan’s Dimon said to relinquish chairman title at bank unit
  • Microsoft said to discuss Windows for HTC Android phones
  • Anadarko, Exxon curb Gulf output amid storm evacuations
  • Rule that fragmented trading worth reviewing, SEC official says
  • Switzerland’s Finma looking into possible manipulation of FX
  • BOJ refrains from more stimulus as business confidence rises
  • Facebook’s Instagram to start advertising amid push for revenue
  • Samsung’s smartphone array drives record profit as HTC stumbles
  • Shutdown, IMF, APEC Meetings, Nobels: Wk Ahead Oct. 5-12

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Indonesia Challenges LME in Bid to Set Global Benchmark for Tin
  • Gold Traders Bullish a Third Week on U.S. Stalemate: Commodities
  • WTI Crude Heads for Weekly Gain as U.S. Seen Avoiding Default
  • Gold Swings in London as Investors Weigh U.S. Shutdown, Debt
  • Itochu Uses Paul Smith Plus Bananas to Beat Commodity Rivals
  • Copper Rises, Paring First Weekly Drop in Three: LME Preview
  • Rubber Marks Worst Week Since May as U.S. Impasse Boosts Yen
  • Gold May Test 2013 Low on Head and Shoulders: Technical Analysis
  • Freak Grape-Destroying Hail Crushes Burgundy Winemakers’ Dreams
  • Norilsk Nickel Plans $10B Capex by 2018 to Boost Metals Output
  • LNG Record Looms as Asian Winter Sparks Spree: Energy Markets
  • Mexican Sun Lures Cash to Solar as Panel Prices Plunge: Energy
  • SGX Suspends Blumont, LionGold, Asiasons After Shares Plunge
  • Copper Heads for First Decline in Three Weeks on U.S. Shutdown

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