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TODAY’S S&P 500 SET-UP – October 16, 2013

                                      

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: 2.37 from 2.33
  • VIX closed at 18.66 1 day percent change of 16.12%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: Mortgage Applications, Oct. 11 (prior 1.3%)
  • 10am: NAHB Housing Market Index, Oct., est. 57 (prior 58)
  • 11am: Fed to purchase $1.25b-$1.75b notes 2036-2043 sector
  • 11:30: U.S. to sell $22b 1Y bills; also 4W bills
  • 2pm: Federal Reserve issues Beige Book
  • 4:30pm: API weekly oil inventory
  • 5:30pm: Fed’s George speaks on Fed’s centennial Oklahoma City
  • 6:45pm: Fed’s Fisher speaks in banking in New York

GOVERNMENT:

    • Diplomats from China, France, Germany, Russia, U.S., U.K. meet with Iranian counterparts in Geneva for P5+1 nuclear talks
    • 9:30am: House Oversight and Government Reform Cmte, House Natural Resources Cmte joint hearing on National Park Service’s implementation of govt shutdown
    • 2pm: Campaign to Fix the Debt news conference to urge Congress, President Obama to put in place long-term agreement to address the national debt, with former Defense Secretary Leon Panetta, former OMB Director Jim Nussel

WHAT TO WATCH:

  • Senate leaders press toward debt-ceiling deal with U.S. House in disarray
  • IMI sells dispenser business to Berkshire Hathaway for $1.1b
  • Advance Auto Parts may buy General Parts Intl., WSJ says
  • Goldman must disclose gender-bias complaints, judge rules
  • Twitter picks NYSE for IPO; 3Q revenue more than doubles
  • Teva, Celgene bidding >$700m for Receptos, Calcalist says
  • Herbalife loses bid to have class-action lawsuit dismissed
  • Alibaba profit jumps ahead of biggest IPO since Facebook
  • Yahoo’s forecasts missing ests. as Google takes market share
  • Samsung loses bid to block license order in Apple patent case
  • Samsung SDI says in talks with Tesla to supply batteries
  • Apple said to cut low-cost iPhone 5C orders in 4Q, WSJ says
  • Fiat trial on UAW’s Chrysler shares to begin Sept. 2014
  • Suntrust to eliminate 800 mortgage employees, WSJ says
  • Boeing says it’s aware of Air India 787 panel event
  • NXP says Broadcom chips in WiiU infringe upon patents
  • Plains GP’s dividend vehicle LP raises $2.8b in IPO

AM EARNS:

    • Abbott Laboratories (ABT) 7:44am, $0.51 - Preview
    • Bank of America (BAC) 7am, $0.21 - Preview
    • Bank of New York Mellon (BK) 6:30am, $0.58
    • BlackRock (BLK) 6:30am, $3.88
    • Comerica (CMA) 6:40am, $0.71
    • KeyCorp (KEY) 6:14am, $0.22
    • Mattel (MAT) 6am, $1.11 - Preview
    • MGIC Investment (MTG) 7am, $(0.11) - Preview
    • Northern Trust (NTRS) 7:30am, $0.77
    • PepsiCo (PEP) 7am, $1.17 - Preview
    • Piper Jaffray (PJC) 8am, $0.48
    • PNC Financial Services (PNC) 6:24am, $1.62
    • St Jude Medical (STJ) 7:30am, $0.90 - Preview
    • Stanley Black & Decker (SWK) 6am, $1.38
    • US Bancorp (USB) 6:45am, $0.76
    • Watsco (WSO) 7:30am, $1.34
    • WW Grainger (GWW) 8am, $3.04 - Preview

PM EARNS:

    • Albemarle (ALB) 4:03pm, $1.07
    • American Express (AXP) 4:04pm, $1.22
    • Core Laboratories (CLB) 4:07pm, $1.34
    • Crown Holdings (CCK) 5:02pm, $1.08
    • CYS Investments (CYS) 4:01pm, $0.32
    • East West Bancorp (EWBC) 5:30pm, $0.54
    • Ebay (EBAY) 4:15pm, $0.63 - Preview
    • El Paso Pipeline Partners (EPB) 4:05pm, $0.47
    • International Business Machines (IBM) 4:05pm, $3.96 -Preview
    • Kinder Morgan (KMI) 4:05pm, $0.31
    • Kinder Morgan Energy Partners (KMP) 4:06pm, $0.60
    • LaSalle Hotel Properties (LHO) 4:04pm, $1.44
    • Noble (NE) 5pm, $0.70
    • SanDisk (SNDK) 4:05pm, $1.33 - Preview
    • Select Comfort (SCSS) 4:01pm, $0.43
    • SLM (SLM) 4:15pm, $0.59
    • Steel Dynamics (STLD) 6pm, $0.24
    • Umpqua Holdings (UMPQ) 4:05pm, $0.26
    • United Rentals (URI) 4:20pm, $1.59
    • Xilinx (XLNX) 4:20pm, $0.53

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Copper Slides for Second Day as U.S. Fiscal Standoff Continues
  • WTI Fluctuates Near Three-Month Low on U.S. Debt, Iran Talks
  • Crop Futures Gain as Cold and Wet U.S. Weather May Delay Harvest
  • Gold Swings Above 3-Month Low as Talks Resume on Debt Impasse
  • Robusta Coffee Rises Before Options Expiration; Sugar Declines
  • U.K.’s Oat Harvest Seen at 40-Year High on Spring Planting Gain
  • Rebar Falls to 3-Month Low in Shanghai as China’s Stocks Slump
  • China Metals Usage Seen Exceeding Rest of the World in 2017
  • Next-Year Copper Forecast at Low on Oversupply Outlook: BI Chart
  • Cocoa Deliveries in Brazil’s Bahia Drop 3.3%, Hartmann Reports
  • Palm Oil Is Seen Rallying on Moving Average: Technical Analysis
  • Gas Buyers Poised to Commit on South Korea Atomic Shift: Energy
  • Putin Builds North Korea Rail Link to Circumvent Suez: Freight
  • Iron Ore Prices Seen by UBS at Risk of Declining on Steel Output

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