TODAY’S S&P 500 SET-UP – October 30, 2013
As we look at today's setup for the S&P 500, the range is 22 points or 1.13% downside to 1752 and 0.12% upside to 1774.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 2.18 from 2.19
- VIX closed at 13.41 1 day percent change of 0.75%
MACRO DATA POINTS (Bloomberg Estimates):
- 7am: MBA Mortgage Applications, Oct. 25 (prior -0.6%)
- 8:15am: ADP Employment Change, Oct., est 150k (prior 166k)
- 8:30am: Consumer Price Index, Sept., est. 0.2% (prior 0.1%)
- 10:30am: DOE Energy Inventories
- 2pm: FOMC Rate Decision, est. 0%-0.25% (prior 0%-0.25%)
GOVERNMENT:
- 9am: HHS Sec. Sebelius to testify before House Energy and Commerce Cmte on problems with HealthCare.gov rollout
- 9:30am: House Transportation Cmte hearing on FAA’s aircraft certification process
- 10am: House, Senate negotiators meet on FY 2014 budget resolution; have until Dec. 13 to deliver recommendations to Congress
- 10am: FDIC to consider plan to implement liquidity risk standards for certain FDIC supervised firms
- 10am: Senate Banking panel hearing on JOBS Act
- 3:55pm: President Obama speaks on health care in Boston
WHAT TO WATCH:
- Boeing said to near order haul of up to $87b for 777X
- CFTC to adopt client-funds rule after MF Global, Peregrine
- Obama presses lawmakers to confirm Mel Watt for FHFA
- JPMorgan said to meet U.S. resistance on mortgage accord terms
- AMR’s CEO sees way to settle federal suit on US Airways Merger
- U.S. Steel to close some North American Capacity amid review
- Defaults seen below crisis levels in next cycle, Moody’s says
- Brixmor raises $825m in first REIT IPO by Blackstone
- RBS said to review currency-trading practises
- Barclays quarterly profit meets ests. as FICC revenue falls
- Twitter adds photos and video previews to user feeds: NYT
- LinkedIn 4Q rev., adj. Ebitda views miss ests.
- Batista’s OGX said to plan bankruptcy protection filing today
AM EARNS:
- AGL Resources (GAS) 8am, $0.15
- American Tower (AMT) 7am, $0.91
- Arrow Electronics (ARW) 8am, $1.20
- Athabasca Oil (ATH CN) Bef-mkt, C$(0.07) - Preview
- Automatic Data Processing (ADP) 7:30am, $0.66
- BorgWarner (BWA) 8am, $1.34
- Cameco (CCO CN) 8:30am, C$0.18 - Preview
- Comcast (CMCSA) 7am, $0.61 - Preview
- Corning (GLW) 7am, $0.32
- Diebold (DBD) 8am, $0.42
- Energen (EGN) 6:30am, $0.61
- Exelon (EXC) 7:30am, $0.67
- Garmin (GRMN) 7am, $0.59
- General Motors (GM) 7:30am, $0.94 - Preview
- Graphic Packaging (GPK) 7:30am, $0.13
- Hess (HES) 7am, $1.44 - Preview
- Hyatt Hotels (H) 7:30am, $0.22 - Preview
- Jones Group (JNY) 7am, $0.42
- Level 3 Communications (LVLT) 7am, $(0.12)
- MSC Industrial Direct (MSM) 7:30am, $0.90
- PG&E (PCG) 8:03am, $0.78
- Phillips 66 (PSX) 8am, $0.93
- Praxair (PX) 6:05am, $1.51
- Public Service Enterprise (PEG) 7:30am, $0.76
- Sealed Air (SEE) 6am, $0.33
- Sherritt Intl (S CN) 7:42am, C$0.02 - Preview
- SodaStream Intl (SODA) 7:30am, $0.84
- Southern (SO) 7:30am, $1.11
- Spirit Airlines (SAVE) 6:15am, $0.75
- Sprint (S) 7am - Preview
- SPX (SPW) 6:30am, $1.25
- Taser Intl (TASR) 7:30am, $0.08
- TE Connectivity (TEL) 6am, $0.90
- Walter Energy (WLT) 8am, $(1.01) - Preview
- Wisconsin Energy (WEC) 7am, $0.59
PM EARNS:
- Active Network (ACTV) 4:05pm, $(0.01)
- Allstate (ALL) 4:05pm, $1.44
- American Capital Mortgage Investment (MTGE) 4:01pm, $0.78
- Arris (ARRS) 4pm, $0.34
- Atmel (ATML) 4:05pm, $0.09
- Avis Budget Group (CAR) 4:15pm, $1.51
- Axis Capital (AXS) 4:05pm, $1.22
- Boston Beer (SAM) 4:10pm, $1.82
- Canadian Oil Sands (COS CN) 5:01pm, C$0.42
- Capstone Mining (CS CN) Aft-mkt, $0.02
- Centerra Gold (CG CN) Aft-mkt, $(0.01)
- Cogeco Cable (CCA CN) Aft-mkt, C$1.03
- Community Health Systems (CYH) 4:15pm, $0.68
- Computer Sciences (CSC) 4:15pm, $0.83
- Cousins Properties (CUZ) 4:01pm, $0.12
- Crocs (CROX) 4pm, $0.17
- Duke Realty (DRE) 4:09pm, $0.28
- Equity Residential (EQR) 4:21pm, $0.73
- Exelixis (EXEL) 4:17pm, $(0.37)
- Expedia (EXPE) 4pm, $1.36 - Preview
- Facebook (FB) 4:05pm, $0.19 - Preview
- First Quantum Minerals (FM CN) 5pm, $0.21 - Preview
- FleetCor Technologies (FLT) 4:01pm, $0.98
- Hanesbrands (HBI) 4:01pm, $1.13
- InterMune (ITMN) 4pm, $(0.71)
- International Rectifier (IRF) 4:01pm, $0.14
- Intersil (ISIL) 4:05pm, $0.17
- Intrepid Potash (IPI) 4:03pm, $0.07
- Jarden (JAH) 4:05pm, $1.00
- JDS Uniphase (JDSU) 4:05pm, $0.12
- Key Energy Services (KEG) Aft-mkt, $0.01
- Kraft Foods (KRFT) 4pm, $0.70 - Preview
- Lincoln National (LNC) 4:10pm, $1.22
- Lundin Mining (LUN CN) 5pm, $0.07 - Preview
- Marriott (MAR) 4:30pm, $0.45 - Preview
- MetLife (MET) 4:05pm, $1.36
- Microchip Technology (MCHP) 4:15pm, $0.60
- Murphy Oil (MUR) 4:31pm, $1.47
- Owens-Illinois (OI) 4:04pm, $0.77
- PerkinElmer (PKI) 4:01pm, $0.48
- Questar (STR) 4:10pm, $0.18
- Rovi (ROVI) 4:05pm, $0.48
- Ruckus Wireless (RKUS) 4:05pm, $0.04
- Skyworks Solutions (SWKS) 4:30pm, $0.62
- Starbucks (SBUX) 4:05pm, $0.60 - Preview
- SunPower (SPWR) 4:05pm, $0.25
- Trinity Industries (TRN) 4:01pm, $1.17
- United Online (UNTD) 4:15pm, $0.09
- Visa (V) 4:05pm, $1.85
- Williams (WMB) 4:01pm, $0.14
- Williams Partners (WPZ) 4:01pm, $0.30
- XL Group (XL) 4:01pm, $0.54
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- WTI Crude Declines for a Second Day as U.S. Inventories Grow
- Billionaire Bets on Rare Earths After Uralkali Exit: Commodities
- Copper Reaches One-Week High as Stockpiles Continue to Shrink
- Cotton Has Longest Slump Since May as Harvests Add to Supplies
- Soybeans Advance for Second Day on Export Demand, Palm’s Rally
- Gold Swings Below Five-Week High in London Before Fed Meeting
- Potash Producer ICL Weighing on Benchmark Index: Israel Markets
- Indian Wheat Exports Seen at Record on Government Price Cut
- MORE: Chalco Sees China Aluminum Output Reaching Record 24M Tons
- EDF Nuclear-Deal Support Will Spur Power Projects: U.K. Credit
- Silver Coin Premiums Fall as Comex Inventories Climb: BI Chart
- Crop Insurance Hazards Revealed in Lost Pheasants in Grasslands
- CFTC to Adopt Client-Funds Rule After MF Global, Peregrine Cases
- Indonesia Seen Avoiding Total Ban on Mineral Ore Exports in 2014
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team