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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

THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

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

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