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TODAY’S S&P 500 SET-UP – October 14, 2013


As we look at today's setup for the S&P 500, the range is 25 points or 1.19% downside to 1683 and 0.28% 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 15.72 1 day percent change of -4.61%

MACRO DATA POINTS (Bloomberg Estimates):

  • No data scheduled, Columbus Day holiday
  • 9pm: Fed’s Bernanke speaks on Mexico’s central bank in Mexico City
  • U.S. Rates Weekly Agenda

GOVERNMENT:

    • Columbus Day federal holiday
    • Washington Weekly Agenda

WHAT TO WATCH:

  • Columbus Day holiday; equity markets open, domestic bond markets closed; federal govt is closed
  • Senate leaders struggle to end govt shutdown; default looms
  • China’s export drop underscores global demand threat
  • Facebook buys Israeli startup Onavo
  • Japan to outsource management of some forex reserves
  • Netflix in talks w/ Comcast, Suddenlink for box deals
  • St. Jude buys pacemaker co. Nanostim for $123.5m
  • TD Bank considers bid for RBS U.S. unit Citizens: Sunday Times
  • U.S. Debt Talks, China GDP, Google, GE: Wk Ahead Oct. 14-19

EARNINGS:

    • Brown & Brown (BRO) 4:15pm, $0.41
    • Packaging Corp of America (PKG) 5pm, $0.89
    • Wintrust Financial (WTFC) 4:01pm, $0.64

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Copper Advances as China Imports the Most Metal in 18 Months
  • Copper Supply Glut Seen Tripling as Prices Sink 10%: Commodities
  • Gold Holds Above 3-Month Low on Physical Demand, U.S. Impasse
  • WTI Crude Extends Losses, Drops as Much as 53c to $101.49/Bbl
  • China Challenges CME to SGX With New Iron Ore Futures Contract
  • Soybeans Rebound From Two-Month Low as Rain May Delay U.S. Crop
  • Natural Gas Jumps to Three-Month High as Cooler Weather Forecast
  • Saudi Aramco Plans ‘Massive’ Spending to Extend Field Life
  • Palm Oil Declines Most in Week as Demand From India Decreases
  • Rebar Gains for Third Day in China on Signs of Stronger Demand
  • Shemen Drops Most on Record on ‘Dry Hole’ Report: Tel Aviv Mover
  • Record Evacuation Limits India Storm Deaths as Rice Crop Ruined
  • China Dairy Demand Drives Warrnambool Bids Down Under: Real M&A
  • WTI Premium Ebbs as Cushing Supplies Recover: Energy Markets
  • Palm Exports From Indonesia Climb for First Month Since May

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