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TODAY’S S&P 500 SET-UP – October 18, 2013


As we look at today's setup for the S&P 500, the range is 50 points or 2.20% downside to 1695 and 0.68% upside to 1745.        

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: 2.25 from 2.28
  • VIX closed at 13.48 1 day percent change of -8.36%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8am: Fed’s Lacker speaks on orderly resolution in Washington
  • 11am: Fed to purchase $1.25b-$1.75b notes in 2036-2043 sector
  • 1pm: Baker Hughes rig count
  • 1pm: Fed’s Tarullo speaks on orderly resolution in Washington
  • 2pm: Fed’s Evans speaks on economy in Chicago
  • 3:40pm: Fed’s Dudley speaks
  • 4:30pm: Fed’s Stein speaks in Boston

GOVERNMENT:

    • 8am: Fed conf. on “Planning for Orderly Resolution of a Global Systemically Important Bank”
    • 8:30am: CMS Deputy Administrator speaks at America’s Health Insurance Plans State Issues conf.

WHAT TO WATCH:

  • Barclays, Citigroup FX traders’ msgs said to be scrutinized
  • LG Display leads Apple supplier gains on Morgan Stanley report
  • Morgan Stanley must face group lawsuit by Singapore investors
  • KKR sues Halliburton to enforce $256m arbitration award
  • Royal Brunei in talks with Airbus, Boeing to buy planes
  • China GDP growth rebounds after Li stimulus to meet target
  • Hedge funds seek to trade in comfort as bankruptcy insiders
  • JPMorgan sells Chase Manhattan Plaza in NYC to China’s Fosun
  • U.S. video-game sales jump in Sept. on ‘Grand Theft Auto’
  • U.S. Government, IPads, Ford, U.K. GDP: Wk Ahead Oct. 19-26

EARNINGS:

    • Baker Hughes (BHI) 6am, $0.78 - Preview
    • Celanese (CE) 5pm, $1.15
    • First Horizon National (FHN) 7am, $0.19
    • First Niagara Financial (FNFG) 7:15am, $0.19
    • General Electric (GE) 6:30am, $0.35 - Preview
    • Genuine Parts (GPC) 8:49am, $1.20
    • Honeywell Intl (HON) 6:30am, $1.24 - Preview
    • Ingersoll-Rand (IR) 7am, $1.10
    • Interpublic Group (IPG) 7am, $0.18
    • Kansas City Southern (KSU) 8am, $1.11 - Preview
    • Laboratory Corp of America (LH) 6:45am, $1.80 - Preview
    • Morgan Stanley (MS) 7:15am, $0.40 - Preview
    • Parker Hannifin (PH) 7:30am, $1.47
    • Schlumberger (SLB) 6:30am, $1.24 - Preview
    • SunTrust Banks (STI) 6am, $0.68
    • Textron (TXT) 6:30am, $0.47

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Asian Gold Demand Seen Surging by HSBC on Elevated Inflation
  • Wheat Bears Prevail as Demand Slows for Record Crop: Commodities
  • Copper Heads for Biggest Weekly Gain in Four on Chinese Growth
  • Iron Ore Futures Debut in Dalian as China Seeks Pricing Power
  • Wheat Climbs as Demand for U.S. and EU Supplies Seen Sustained
  • WTI Crude Set for Second Weekly Decline, Nearing $100 a Barrel
  • Palm Oil Advances a Second Week as Exports From Malaysia Climb
  • Natural Gas Futures Set for Weekly Loss on Ample U.S. Stockpiles
  • Gold Swings as It Heads for Best Week Since August on Stimulus
  • Chinese Steel Products Output Up 16.3% Yoy on Stimulus: BI Chart
  • Stevens Silent as Commodities Spur Aussie Rise: Chart of the Day
  • WTI Crude May Fall After U.S. Inventories Climb, Survey Shows
  • Railroads Shipping Oil Face New Rules After Quebec Fire: Energy
  • Goldman Sachs Cuts Arabica Coffee Forecasts by 7.7% on Weather

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