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TODAY’S S&P 500 SET-UP – October 17, 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: 2.32 from 2.33
  • VIX closed at 14.71 1 day percent change of -21.17%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:45am: Fed’s Fisher speaks to Economic Club of New York
  • 8:30am: Init. Jobless Claims, Oct. 11, est. 335k (prior 374k)
  • 9:45am: Bloomberg Economic Expectations, Oct. (prior -9)
  • 9:45am: Bloomberg Consumer Comfort, Oct. (prior -29.7)
  • 10am: Philly Fed Business Outlook, Oct., est. 15 (pr 22.3)
  • 10am: Freddie Mac mortgage rates
  • 10:30am: DOE Energy Inventories
  • 11am: Fed to purchase $2.75b-$3.5b notes in 2020-2023 sector
  • 11am: U.S. announces offering size for auction of 30Y TIPS
  • 12:45pm: Fed’s Evans speaks on economy in Wisconsin
  • 12:45pm: Fed’s George speaks on economy in Oklahoma City
  • 2:45pm: Fed’s Kocherlakota speaks on monetary policy in Mont.

GOVERNMENT:

    • Parts of the federal govt may reopen as soon as today following 16-day shutdown
    • FTC Commissioner Julie Brill delivers remarks on “Removing the Roadblocks to Affordability” at America’s Health Insurance Plans’ State Issues Conference, 4pm
    • Booker beats Lonegan for New Jersey U.S. Senate seat
    • Kentucky’s $1.2b public works pork included in debt deal

WHAT TO WATCH:

  • Congress vote ends fiscal impasse; Obama signed measure
  • S&P cuts U.S. 4Q GDP growth outlook on fiscal impasse
  • Restarting government seen harder than shutting down
  • IBM 3Q EPS beats, rev. misses; reiterates yr EPS view
  • EBay holiday-quarter forecast misses analyst ests.
  • American Express 3Q EPS, rev. beat ests. on member spending
  • Facebook loosening rules to let teens share content publicly
  • J.C. Penney, Home Depot defeat $250m gift-card patent case
  • Barington Capital calls for breakup of Darden Restaurants: NYT
  • Twitter hires Google ad exec. Hirschle ahead of IPO
  • Ford to expand 2014 F-150 line to widen lead in pickup market
  • Jos. A. Bank won’t rule out hostile bid for Men’s Wearhouse
  • Tesla led Calif. zero-emission vehicle credit sales last yr
  • CEO funding Chevron lawsuit says he regrets supporting case
  • Beechcraft said to revive possible $1.5b sale

AM EARNS:

    • Alliance Data Systems (ADS) 7am, $2.66
    • Amphenol (APH) 8am, $0.97
    • B&G Foods (BGS) 7:35am, $0.40
    • Baxter Intl (BAX) 7am, $1.19 - Preview
    • BB&T (BBT) 5:45am, $0.70
    • Blackstone Group (BX) 8am, $0.56
    • Cypress Semiconductor (CY) 7:41am, $0.12
    • Danaher (DHR) 6am, $0.83
    • Dover (DOV) 7am, $1.50
    • Fairchild Semiconductor (FCS) 7:25am, $0.12
    • Fifth Third Bancorp (FITB) 6:30am, $0.42
    • Goldman Sachs Group (GS) 7:30am, $2.47 - Preview
    • Hubbell (HUB/B) 7:20am, $1.60
    • Huntington Bancshares (HBAN) 5:55am, $0.17
    • M&T Bank (MTB) 8:03am, $2.09
    • Nucor (NUE) 9am, $0.39 - Preview
    • Peabody Energy (BTU) 8am, $(0.04) - Preview
    • Penn National Gaming (PENN) 7am, $0.46
    • Philip Morris Intl (PM) 6:59am, $1.43 - Preview
    • PPG Industries (PPG) 8:11am, $2.34
    • Quest Diagnostics (DGX) 7am, $1.02
    • Snap-on (SNA) 7am, $1.42
    • Sonoco Products (SON) 7:30am, $0.61
    • Supervalu (SVU) 8am, $0.11 - Preview
    • Union Pacific (UNP) 8am, $2.47 - Preview
    • UnitedHealth Group (UNH) 6am, $1.53
    • Verizon Communications (VZ) 7:30am, $0.74 - Preview

PM EARNS:

    • Advanced Micro Devices (AMD) 4:15pm, $0.02 - Preview
    • Align Technology (ALGN) 4pm, $0.30
    • Associated Banc (ASBC) 4:05pm, $0.26
    • Athenahealth (ATHN) 4:01pm, $0.31 - Preview
    • Capital One Financial (COF) 4:05pm, $1.81
    • Chipotle Mexican Grill (CMG) 4:01pm, $2.78 - Preview
    • Cytec Industries (CYT) 4:06pm, $1.31
    • Google (GOOG) 4pm, $10.36 - Preview
    • Intuitive Surgical (ISRG) 4:05pm, $3.40 - Preview
    • Las Vegas Sands (LVS) 4:01pm, $0.76 - Preview
    • People’s United Financial (PBCT) 4:02pm, $0.21
    • Rambus (RMBS) 4:05pm, $0.11
    • Stryker (SYK) 4pm, $0.99 - Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Cocoa Nears 25-Month High in New York on Dollar; Sugar Retreats
  • Gold Slumping to Four-Year Low for Best Forecasters: Commodities
  • WTI Crude Slips After Biggest Gain in a Week as Stockpiles Rise
  • Gold Jumps Most in Four Weeks on Dollar, Dagong U.S. Downgrade
  • Copper Falls as Investors Shift Focus to Prospects for Surplus
  • Wheat Gains on Concerns Argentina Needs More Rain to Boost Crops
  • Record Copper Output in China Seen by Antaike on Smelter Fees
  • Shanghai Rebar Falls as Inventory Gain Stokes Supply Concern
  • Gold-Silver Ratio May Rise to Two-Month High: Technical Analysis
  • Gasoline Refiners Lose in Europe as U.S. Exports: Energy Markets
  • Chocolate Prices Fueled by Cocoa Butter’s Gain: Chart of the Day
  • China Railways Trailing 1880 U.S. Show Spending Scope: Economy
  • Alcoa Doesn’t Know Impact of Saudi Outage on Aluminum Production
  • China Steel Production Outlook Raised as Supercycle Continues

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