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
EQUITY SENTIMENT:
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
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team