THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – October 11, 2013


As we look at today's setup for the S&P 500, the range is 26 points or 0.62% downside to 1682 and 0.91% upside to 1708.                      

                                                                                                         

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: 2.34 from 2.34
  • VIX closed at 16.48 1 day percent change of -15.92%

MACRO DATA POINTS (Bloomberg Estimates):

  • 9:55am: U Mich. Confidence, Oct. prelim, est. 75.9 (pr 77.5)
  • 11am: Fed’s Powell speaks on monetary policy in Washington
  • 11am: Fed to purchase $1.25b-$1.75b in 2036-2043 sector
  • 1pm: Fed’s Rosengren at Council of Foreign Relations in N.Y.
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • 9am: Natural Resources Defense Council, Sierra Club, Canadian scientists and activists briefing on Canadian govt, climate policies, tar sands expansion, Keystone XL
    • 10am: Joint Economic Cmte hearing on fiscal sustainability, economic growth
    • 1:30pm: G-20 members hold IMF/World Bank press conferences

WHAT TO WATCH:

  • House Republicans enter talks with Obama on debt-ceiling deal
  • Default doubters repudiated by Republican economists citing harm
  • Energy Future said near bankruptcy loan exceeding $3b
  • Pimco said to raise $3.5b for Bravo II credit fund
  • Del Monte Pacific to buy U.S. food brands for $1.68b
  • Twitter said to pay 3.25% bankers’ fee in IPO topping $1b
  • Potash Corp. cuts profit forecast amid market uncertainty
  • Device sales delays possible as shutdown halts FCC reviews
  • Brevan Howard said to start fund run by ex-Deutsche Bank team
  • China Greenland to invest in $5b New York property deal
  • Google moved EU8.8b in royalty payments to Bermuda in 2012: FT
  • ESM’s Regling says Greece widely expected to need new bailout
  • Royal Mail surges on opening following oversubscribed IPO
  • U.S. Debt Deadline, China GDP, Google, GE: Wk Ahead Oct. 12-19

EARNINGS:

    • JPMorgan Chase (JPM) 7am, $1.29 - Preview
    • Webster Financial (WBS) 8am, $0.49
    • Wells Fargo (WFC) 8am, $0.97 - Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Corn Tumbles to Three-Year Low on U.S. Harvest, Ethanol Mandate
  • Gold Analysts Bearish on Signs of U.S. Compromise: Commodities
  • IEA Sees Oil Output From Outside OPEC Rising Most Since 1970s
  • Cocoa Jumps to Highest in Almost Two Years as Supply Falls Short
  • Copper Rises for Second Day on Strengthening Chinese Car Sales
  • WTI Crude Set for Weekly Decline; IEA Sees Non-OPEC Supply Boom
  • Gold Heads for Second Weekly Loss as U.S. Impasse Seen Ending
  • Rebar Gains for Second Week on China Restocking, Iron Ore Prices
  • Falling Copper Grades Show Super Cycle Intact: Chart of the Day
  • Coal 4-Year Low Lures Utilities Ignoring Climate: Energy Markets
  • U.S. Oil Boom Races Against Red Queen as Shale Wells Fade Fast
  • Shale Ascendancy in Europe Displaces Pipeline Gas: Bear Case
  • Lukashenko Calls for Potash ‘Cartel’ Revival to Boost Price
  • Sugar Climbs in New York as Brazil May Slow Sales for Now

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

 

 

 

 

 

 

 

 

 

 

 

 

 


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