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
EQUITY SENTIMENT:
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
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team