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