THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – October 31, 2013


As we look at today's setup for the S&P 500, the range is 16 points or 0.47% downside to 1755 and 0.44% upside to 1771.         

                                                                                                                      

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: 2.21 from 2.22
  • VIX closed at 13.65 1 day percent change of 1.79%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:30am: RBC Consumer Outlook Index, Nov. (prior 50.7)
  • 8:30am: Init. Jobless Claims, Oct. 26, est. 338k (prior 350k)
  • 9am: ISM Milwaukee, Oct., est. 53 (prior 55)
  • 9:45am: Chicago Purchasing Mgr, Oct., est. 55 (prior 55.7)
  • 9:45am: Bloomberg Consumer Comfort, Oct. 27
  • 10am: Freddie Mac mortgage rates
  • 10:30am: EIA natural-gas storage change

GOVERNMENT:

    • President Obama to speak on private-sector jobs, new business investment at Commerce Dept.’s Select USA Investment Summit
    • NRC, FEMA meet to discuss preliminary draft changes to Emergency Preparedness Criteria
    • 10am: Sen. Banking Cmte hears from Fed-New York’s EVP on revising guarantee for mortgage-backed securities
    • 10:15am: Sen. Foreign Relations Cmte. holds hearing on Syria

WHAT TO WATCH:

  • Facebook to limit ads as younger teens using site less
  • Deficit in U.S. narrows to five-year low on record revenue
  • ECB makes crisis cash lines at central banks permanent backstop
  • Morgan Stanley said to take 30% stake in Mitsubishi UFJ firm
  • Bank of Japan sticks with campaign of record monetary easing
  • Starbucks forecast trails ests. as Asia gains slow
  • Goldman shrinking pay shows Wall Street poised for bonus gloom
  • Citigroup, JPMorgan said to put currency dealers on leave
  • Oracle pay under fire from pension funds before annual meeting
  • Twitter mum on profit has roadshow attendees questioning value
  • Visa profit matches estimates as $5b buyback plan is set
  • Allstate profit slides 57% on loss tied to sale of life unit
  • Metlife misses estimates as insurer incurs costs in Australia

AM EARNS:

    • Advance Auto Parts (AAP) 8:30am, $1.42
    • Alamos Gold (AGI CN) 6am, $0.07
    • Alpha Natural Resources (ANR) 7am, $(0.76) - Preview
    • AmerisourceBergen (ABC) 7am, $0.74 - Preview
    • Avon Products (AVP) 7:01am, $0.19 - Preview
    • Barrick Gold (ABX CN) 6:30am, $0.50 - Preview
    • Beam (BEAM) 7:30am, $0.58
    • Bell Aliant (BA CN) 6am, C$0.42
    • Belo (BLC) 6am, $0.12
    • Bombardier (BBD/B CN) 6am, $0.10
    • Boyd Gaming (BYD) 7am, $0.01
    • Cardinal Health (CAH) 7am, $0.85 - Preview
    • Catamaran (CCT CN) 6am, $0.48
    • Cigna (CI) 6am, $1.62
    • Clorox (CLX) 8:30am, $1.01 - Preview
    • ConocoPhillips (COP) 7am, $1.45 - Preview
    • Discovery Communications (DISCA) 7am, $0.73
    • Enterprise Products (EPD) 6am, $0.69
    • Estee Lauder (EL) 7:30am, $0.73 - Preview
    • Exxon Mobil (XOM) 8:02am, $1.77 - Preview
    • GrafTech International (GTI) 7:04am, $0.02
    • Harman International (HAR) 8am, $0.84
    • Hillshire Brands (HSH) 7:30am, $0.35 - Preview
    • Imperial Oil (IMO CN) 7:55am, C$0.99
    • Incyte (INCY) 7am, $(0.09) - Preview
    • Invesco (IVZ) 7:30am, $0.52
    • Iron Mountain (IRM) 6am, $0.30
    • LKQ (LKQ) 7am, $0.25
    • Magellan Midstream Partners (MMP) 8:02am, $0.59
    • Marathon Petroleum (MPC) 7:14am, $0.63
    • MasterCard (MA) 8am, $6.94
    • MGM Resorts (MGM) 8am, $(0.03) - Preview
    • Mylan (MYL) 7am, $0.79 - Preview
    • New York Times (NYT) 8:30am, $(0.03)
    • NII Holdings (NIHD) 6:30am, $(1.17)
    • NiSource (NI) 6:30am, $0.17
    • Ocwen Financial (OCN) 7:30am, $1.09
    • Perrigo (PRGO) 7:44am, $1.39
    • Pinnacle West (PNW) 8am, $2.17
    • PPL (PPL) 6:57am, $0.68
    • Quanta Services (PWR) 6:07am, $0.45
    • Realty Income (O) 9:15am, $0.61
    • SCANA (SCG) 7:30am, $0.92
    • TECO Energy (TE) 7:30am, $0.33
    • Teradata (TDC) 6:55am, $0.70
    • Teva (TEVA) 7:30am, $1.25
    • Time Warner Cable (TWC) 6am, $1.64 - Preview
    • TransAlta (TA CN) 7:45am, C$0.18
    • Valeant Pharmaceuticals (VRX CN) 6am, $1.41
    • ViroPharma (VPHM) 7:30am, $0.15
    • Western Refining (WNR) 6am, $0.50

PM EARNS:

    • American International Group (AIG) 4pm, $0.96
    • Apartment Investment & Management (AIV) 4:05pm, $0.50
    • Camden Property Trust (CPT) 4:17pm, $1.02
    • DCT Industrial Trust (DCT) 4:10pm, $0.11
    • Fairfax Financial (FFH CN) 5:02pm, $4.26
    • First Solar (FSLR) 4:02pm, $0.95 - Preview
    • Fluor (FLR) 4:05pm, $1.03
    • Kodiak Oil & Gas (KOG) 4:01pm, $0.23
    • Mohawk Industries (MHK) 4:01pm, $1.90
    • MRC Global (MRC) 4:01pm, $0.45
    • Newmont Mining (NEM) 4:43pm, $0.32 - Preview
    • Northeast Utilities (NU) 4:15pm, $0.73
    • Omega Healthcare  (OHI) 6pm, $0.62
    • ON Semiconductor (ONNN) 4:05pm, $0.16
    • Piedmont Office Realty Trust (PDM) 5:02pm, $0.35
    • Public Storage (PSA) 5:05pm, $1.89
    • Republic Services (RSG) 4:10pm, $0.49
    • Southwestern Energy (SWN) 4:30pm, $0.50
    • Standard Pacific (SPF) 4:02pm, $0.12
    • Trimble Navigation (TRMB) 4:05pm, $0.36
    • Western Forest Products (WEF CN) Aft-mkt, C$0.04

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Crude Trades Near Four-Month Low as U.S. Stockpiles Climb
  • Oil Gambit Helps India Mining Billionaire Lead Rio: Commodities
  • Palm Oil Has Biggest Monthly Gain in Three Years as Supply Drops
  • Gold Extends Decline as Fed Sees Growth While Keeping Stimulus
  • Copper Heads for First Monthly Drop in Four on Taper Speculation
  • Cocoa Pares Fourth Monthly Gain as Demand for Halloween Is Over
  • Rebar Posts Monthly Loss on China’s Weak Winter Demand Outlook
  • Wheat Declines to Four-Week Low as India Seen Boosting Shipments
  • Barrick to Stop Pascua-Lama Mine Construction to Conserve Cash
  • Exchange Failure Prompts Commodity Bourse Audit: Corporate India
  • West African Oil Surge to Asia Seen Threatened: Energy Markets
  • Singapore Challenged as LNG Hub by Trading Delay: Southeast Asia
  • Copper 2014 Forecasts Slump to Low on Supply Additions: BI Chart
  • Glencore Xstrata Says Third-Quarter Copper Output Gains 34%

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