TODAY’S S&P 500 SET-UP – October 22, 2013
As we look at today's setup for the S&P 500, the range is 52 points or 1.87% downside to 1712 and 1.11% upside to 1764.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 2.29 from 2.29
- VIX closed at 13.16 1 day percent change of 0.92%
MACRO DATA POINTS (Bloomberg Estimates):
- 7:45am: ICSC weekly sales
- 8:30am: Nonfarm Payrolls, Sept., est. 180k (prior 169k)
- 8:30am: Unemployment Rate, Sept., est. 7.3% (prior 7.3%)
- 8:55am: Johnson/Redbook weekly sales
- 10am: Richmond Fed Manuf. Index, Oct., est. 0 (prior 0)
- 10:30am: EIA weekly natgas storage 10:30am (orig. Oct. 17)
- 11am: Fed to buy $1.25b-$1.75b notes in 2036-2043 sector
- 11:30am: U.S. to sell 4W bills
- 4:30pm: API weekly oil inventories
GOVERNMENT:
- Senate out of session, House in session
- Labor, Commerce Depts. begin to issue economic indicators delayed by 16-day federal govt shutdown
- Supreme Court hears oral arguments in suit challenging certificates of conformity that allow diesel engines produced by Navistar to exceed EPA emissions standards
- SEC Chairman Mary Jo White delivers opening remarks at National Society of Compliance Professionals membership meeting, 8:30am
WHAT TO WATCH:
- BofA said to face 3 more U.S. probes of mortgage-bond sales
- U.S. employers probably expanded payrolls at faster pace in Sept.
- Apple to debut new iPads
- Beechcraft said to attract possible bidders Embraer, Mahindra
- Texas Instruments forecasts profit that trails analyst ests.
- Netflix sign-ups beat ests. as U.S. total Hits 31.1m
- Nokia shows larger devices to help Microsoft’s wireless push
- Apple preparing 65-inch TV for release in 2014, analyst says
- RadioShack said to boost liquidity with $835m credit line
- Goldman Sachs said to seek up to $402m in LEG share sale
- U.S. shoppers in Deloitte survey to boost holiday spending 9.1%
- Jana Partners boosts QEP stake and seeks Midstream unit breakup
- Faith in U.S. ’badly shaken,’ Blackrock CEO Fink writes in FT
AM EARNS:
- AK Steel (AKS) 8:30am, $(0.25)
- Carlisle (CSL) 6am, $1.20
- Centene (CNC) 6am, $0.84
- CIT Group (CIT) 6am, $0.95
- Coach (COH) 7am, $0.76 - Preview
- Delta Air Lines (DAL) 7:30am, $1.35 - Preview
- DuPont (DD) 6am, $0.41 - Preview
- EMC (EMC) 6:47am, $0.45 - Preview
- Entegris (ENTG) 7am, $0.13
- FirstMerit (FMER) 7:30am, $0.34
- Forest Laboratories (FRX) 7am, $0.14 - Preview
- Freeport-McMoRan Copper & Gold (FCX) 8am, $0.63 - Preview
- Gentex (GNTX) 8am, $0.32
- Harley-Davidson (HOG) 7am, $0.72
- IDEXX Laboratories (IDXX) 7am, $0.83
- Ironwood Pharmaceuticals (IRWD) 7:05am, $(0.57)
- Kimberly-Clark (KMB) 7:15am, $1.40 - Preview
- Lexmark International (LXK) 7am, $0.91
- Liberty Property Trust (LRY) 8am, $0.61
- Lockheed Martin (LMT) 7:25am, $2.27 - Preview
- McGraw Hill Financial (MHFI) 7:10am, $0.77
- Nu Skin Enterprises (NUS) 6:35am, $1.42
- Pentair (PNR) 7am, $0.86
- Polaris Industries (PII) 6am, $1.61
- Regions Financial (RF) 7am, $0.21
- Reynolds American (RAI) 6:58am, $0.86 - Preview
- Ryder System (R) 7:55am, $1.45
- Sigma-Aldrich (SIAL) 7am, $0.99
- State Street (STT) 7:13am, $1.18
- Synovus Financial (SNV) 7am, $0.04
- Travelers (TRV) 6:57am,$2.09
- United Technologies (UTX) 6:58am, $1.54 - Preview
- Waters (WAT) 7am, $1.23
- Whirlpool (WHR) 6am, $2.63 – Preview
PM EARNS:
- ACE (ACE) 4:01pm, $2.25
- Altera (ALTR) 4:15pm, $0.34
- Amgen (AMGN) 4pm, $1.78 - Preview
- Apollo Group (APOL) 4pm, $0.25
- Broadcom (BRCM) 4:05pm, $0.68
- Canadian National Railway (CNR CN) 4:01pm, $1.62 - Preview
- Celestica (CLS CN) 4pm, $0.21
- CR Bard (BCR) 4:05pm, $1.40
- Cree (CREE) 4pm, $0.39
- Cubist Pharmaceuticals (CBST) 4pm, $0.33 - Preview
- FMC Technologies (FTI) 4pm, $0.59
- Fulton Financial (FULT) 4:30pm, $0.20
- Juniper Networks (JNPR) 4:05pm, $0.31 - Preview
- Nabors Industries (NBR) 4:02pm, $0.19
- Panera Bread (PNRA) 4pm, $1.35
- RF Micro Devices (RFMD) 4pm, $0.10
- Robert Half International (RHI) 4pm, $0.48
- Total System Services (TSS) 4pm, $0.46
- Trustmark (TRMK) 4:01pm, $0.47
- Unisys (UIS) 4:30pm, $0.94
- Waste Connections (WCN) 4:05pm, $0.50
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- WTI Oil Trades Below $100 a Second Day as U.S. Stockpiles Gain
- Overflowing Canada Grain Bins Compound Global Glut: Commodities
- Nickel Reaches 8-Week High as Export-Ban Prospect Spurs Buying
- Soybeans Fall on Prospects for Weather to Speed Up U.S. Harvest
- Raw Sugar Declines as Traders Assess Santos Fire; Cocoa Retreats
- Gold Swings as Investors Await U.S. Jobs Data to Gauge Stimulus
- Rebar Declines on Concern China Home Price Gains May Spur Curbs
- Palm Oil Imports by China Set to Slow as Soy Shipments Surge
- Iron Ore Backwardation Signals 22% Price Drop: Chart of the Day
- Copper Has Less Support From Speculators Than Three Months Ago
- Gazprom China Deal Revives as LNG Prices Soar: Energy Markets
- U.K. Nuclear Future Relies on Reactor Plagued by Delays: Energy
- StanChart Hires Liam Pepper From JPMorgan for Agriculture Sales
- WTI Crude Seen Extending Drop Below $100 as U.S. Supplies Surge
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team