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TODAY’S S&P 500 SET-UP – October 29, 2013


As we look at today's setup for the S&P 500, the range is 24 points or 0.91% downside to 1746 and 0.45% upside to 1770.                       

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: 2.20 from 2.22
  • VIX closed at 13.31 1 day percent change of 1.68%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:45am: ICSC weekly sales
  • 8:30am: Producer Prices Index, Sept., est. 0.2% (prior 0.3%)
  • 8:30am: Retail Sales, Sept., est. 0.0% (prior 0.2%)
  • 8:55am: Johnson/Redbook weekly sales
  • 9am: S&P/Case Shiller 20 City m/m, Aug., est. 0.65%
  • 10am: Business Inventories, Aug., est. 0.3% (prior 0.4%)
  • 10am: Consumer Conf. Index, Oct., est. 75 (prior 79.7)
  • 4:30pm: API weekly oil inventories
  • NOTE: FOMC meets on interest rates; decision announced Oct. 30

GOVERNMENT:

    • Obama attends memorial service for late speaker Tom Foley
    • House Energy and Technology Cmte on EPA power plant regulations, 10am
    • House Energy and Commerce Cmte hearings on requiring approval of Keystone XL 10am; EPA coal regulations 2pm
    • House Financial Services Cmte hears from Federal Housing Administration Commissioner Carol Galante on agency bailout 10am
    • CMS Administrator Marilyn Tavenner to testify at House Ways and Means Cmte on agency’s oversight of health-care exchanges 10am
    • Executives from EMC, YHOO, LLY and USPTO Director testify on patent bill H.R. 3309 before House Judiciary Cmte 10am

WHAT TO WATCH:

  • AMR, US Airways, U.S. agree to mediation in antitrust case
  • Apple forecasts margins that miss ests. as costs gain
  • Food stamp benefits to contract 5% as stimulus ends
  • Tech, media cos. lobbying for bill to allow data disclosures
  • Michael Kors to replace NYSE Euronext on S&P 500 Index
  • CVSL said to offer $268m for direct seller Blyth
  • Chrysler amends IPO filing to update language
  • News Corp. employees to stand trial in U.K. for phone hacking
  • Obama to meet with CEOs today on cybersecurity
  • Glass Lewis advocates nay vote on Microsoft director Thompson
  • Ford to stop production at Romanian factory, ZF says
  • Boeing may give non-union plant more jet work, WSJ says

AM EARNS:

    • 3D Systems (DDD) 8am, $0.26
    • Actavis (ACT) 6:30am, $2.09 - Preview
    • Aetna (AET) 6am, $1.53 - Preview
    • AGCO (AGCO) 8am, $1.28
    • Air Products & Chemicals (APD) 6am, $1.47
    • Allergan (AGN) 9am, $1.21 - Preview
    • Ametek (AME) 7am, $0.52
    • Arch Coal (ACI) 7:30am, ($0.31) - Preview
    • Archer-Daniels-Midland (ADM) 7am, $0.48
    • Cobalt International Energy (CIE) 7am, ($0.17)
    • Cummins (CMI) 7:30am, $2.11 - Preview
    • Cumulus Media (CMLS) 9am, $0.09
    • Dana Holding (DAN) 7am, $0.55
    • DENTSPLY International (XRAY) 7am, $0.55
    • Ecolab (ECL) 8:25am, $1.03
    • Entergy (ETR) 7am, $2.33
    • Exact Sciences (EXAS) 7:30am, ($0.18)
    • Fidelity National Information Services (FIS) 7am, $0.71
    • Goodyear Tire & Rubber (GT) 7am, $0.67
    • Harris (HRS) 6:30am, $1.13
    • HCP (HCP) 8am, $0.77
    • Huntsman (HUN) 6am, $0.54
    • JetBlue Airways (JBLU) 7:30am, $0.22
    • Johnson Controls (JCI) 7am, $0.95
    • L-3 Communications Holdings (LLL) 7am, $1.95
    • LyondellBasell Industries (LYB) 7am, $1.59
    • MDC Holdings (MDC) 6am, $0.66
    • MeadWestvaco (MWV) 7:25am, $0.50
    • New Gold (NGD CN) 7:30am, $0.04
    • Occidental Petroleum (OXY) 7:30am, $1.90 - Preview
    • Paccar (PCAR) 8am, $0.85 - Preview
    • Penske Automotive Group (PAG) 7:30am, $0.70
    • Pfizer (PFE) 7am, $0.56 - Preview
    • Pitney Bowes (PBI) 7am, $0.41
    • Senior Housing Properties Trust (SNH) 7am, $0.43
    • Sensata Technologies Holding (ST) 6am, $0.55
    • TD Ameritrade Holding (AMTD) 7:30am, $0.37
    • Thomson Reuters (TRI CN) 7am, $0.44
    • TRW Automotive Holdings (TRW) 7am, $1.48
    • UDR (UDR) 8am, $0.35
    • United States Steel (X) 7:45am, ($0.43)
    • United Therapeutics (UTHR) 6am, $1.59
    • Valero Energy (VLO) 7:43am, $0.43 - Preview
    • Vertex Pharmaceuticals (VRTX) Bef-mkt, ($0.35)
    • Vishay Intertechnology (VSH) 7:30am, $0.23
    • Waddell & Reed Financial (WDR) 6:59am, $0.72
    • Waste Management (WM) 7:30am, $0.62
    • Xylem (XYL) 7am, $0.35 - Preview

PM EARNS:

    • Access Midstream Partners (ACMP) 4:15pm, $0.33
    • Aflac (AFL) 4:09pm, $1.48
    • Ameriprise Financial (AMP) 4:05pm, $1.73
    • Arthur J Gallagher (AJG) 4:10pm, $0.61
    • Baidu (BIDU) 4:01pm, $8.88
    • Boston Properties (BXP) 5:59pm, $1.28
    • Buffalo Wild Wings (BWLD) 4:01pm, $0.8
    • Caesars Entertainment Corp (CZR) 4pm, ($1.28)
    • CBRE Group (CBG) 4:05pm, $0.33
    • Chicago Bridge & Iron (CBI) 4:22pm, $1.10
    • Cirrus (CRUS) 4pm, $0.60 - Preview
    • Dolby Laboratories (DLB) 4:05pm, $0.46
    • DreamWorks Animation SKG (DWA) 4:02pm, $0.00 - Preview
    • Edison International (EIX) 4pm, $1.25
    • Electronic Arts (EA) 4:01pm, $0.12
    • Enbridge Energy Partners (EEP) 4:01pm, $0.25
    • EXCO Resources (XCO) 4:22pm, $0.09
    • Fiserv (FISV) 4:01pm, $1.49
    • Flextronics International (FLEX) 4:01pm, $0.21
    • Genworth Financial (GNW) 4:45pm, $0.26
    • Gilead (GILD) 4:01pm, $0.48
    • IAC/InterActiveCorp (IACI) 4:10pm, $0.94
    • Kimco Realty (KIM) 4:01pm, $0.33
    • LifeLock (LOCK) 4:05pm, $0.10
    • LinkedIn (LNKD) 4:05pm, $0.32 - Preview
    • Mueller Water Products (MWA) 4:20pm, $0.07
    • Plantronics Inc (PLT) 4pm, $0.65
    • Questcor Pharmaceuticals (QCOR) 4:01pm, $1.28
    • Range Resources (RRC) 5:02pm, $0.30
    • Ryland Group (RYL) 4:15pm, $0.90
    • Shutterfly (SFLY) 4:02pm, ($0.24)
    • SM Energy (SM) 7:07pm, $1.11
    • SolarWinds (SWI) 4:01pm, $0.36
    • Sonus Networks (SONS) 4:01pm, $0.01
    • Take-Two Interactive Software (TTWO) 4:05pm, $1.68
    • Tanger Factory Outlet Centers (SKT) 4:05pm, $0.46
    • Trulia (TRLA) 4:05pm, $0.08
    • Universal Health Services (UHS) 5:01pm, $1.02
    • WebMD (WBMD) 4pm, $0.09
    • Western Union (WU) 4pm, $0.36
    • Willis Group Holdings (WSH) 4:30pm, $0.20
    • Yamana Gold (YRI CN) Aft-mkt, $0.08 - Preview
    • Yelp (YELP) 4:03pm, ($0.01)

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Corn Reaches Three-Year Low as Harvesting in U.S. Accelerates
  • Sugar Falling as Brazil Blaze Seen No Bar to Glut: Commodities
  • WTI Drops From One-Week High; Goldman Cuts OPEC Outlook on Libya
  • Gold Falls From 5-Week High as Dollar Gains Before Fed Meeting
  • Copper Rises as Withdrawal Orders Jump the Most in Four Months
  • Rubber Advances in Tokyo Amid Optimism for Chinese Demand
  • MORE: Copper Mine Capacity to Grow to 27.7m Tons in 2016: ICSG
  • Libyan Oil Production Sinks 50% as Nomads Halt Sharara Field
  • U.S. Pump Prices Drop to 2013 Low on Record Gasoline Production
  • Impala Workers Vote to Strike at World’s Biggest Platinum Mine
  • Phantom Ships Expose Weakness in Vessel-Tracking System: Freight
  • Paris Wheat May Drop 4.1% in Retracement: Technical Analysis
  • U.S. Shale May Be Dwarfed by Rosneft, Exxon Russian Shale Play
  • Rebar Advances in Shanghai as China Central Bank Adds Liquidity

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