THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 1, 2013


As we look at today's setup for the S&P 500, the range is 31 points or 0.94% downside to 1740 and 0.82% 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: 2.27 from 2.25
  • VIX closed at 13.75 1 day percent change of 0.73%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:58am: Markit U.S. PMI Final, Oct., est. 51.1
  • 9:10am: Fed’s Bullard speaks on monetary policy in St. Louis
  • 10am: ISM Manufacturing, Oct., est. 55 (prior 56.2)
  • 11:15am: Fed’s Kocherlakota speaks on health care in Minn.
  • 12pm: Fed’s Lacker speaks in Philadelphia
  • 1pm: Baker Hughes rig count
  • 5pm: Total Vehicle Sales, Oct., est. 15.43m (prior 15.21m)

GOVERNMENT:

    • Commerce Dept holds Day 2 of SelectUSA Summit with speakers incl. Commerce Sec. Penny Pritzker, Sec. of State John Kerry, Caterpillar CEO Doug Oberhelman; Ludwig Willisch, CEO of BMW North America
    • President Obama meets with Iraq’s Nouri al-Maliki at White House to discuss defense, security issues

WHAT TO WATCH:

  • FAA to let airlines apply for broader use of electronics
  • Dutch govt selling $8.7b of ING’s U.S. mortgage bonds
  • U.S. rule change allows $500 carryover in flex spending acct
  • China manufacturing gauge tops ests. in recovery boost
  • Nortel patent owner Rockstar sues Google, Huawei: Reuters
  • U.S. tech leaders calling for data use laws: Washington Post
  • Google, Red Hat, Oracle engineers deployed for Obamacare fix
  • MasterCard momentum may build vs Visa as Europe rebounds
  • Barrick may raise $3.45b in share sale to reduce debt
  • RBS suspends 2 forex traders; would be first suspensions: FT
  • Pemex may list some assets on exchange as early as 2014
  • Oct. U.S. auto sales may disappoint; SAAR may hit 15.4m
  • Macau casino revenue surged to record $4.6b in Oct.

EARNINGS:

    • Allete (ALE) 8:30am, $0.73
    • American Axle & Manufacturing (AXL) 8am, $0.56
    • Buckeye Partners (BPL) 7am, $0.83
    • CBOE Holdings (CBOE) 7:30am, $0.45
    • Chevron (CVX) 8:30am, $2.70 - Preview
    • Church & Dwight (CHD) 7am, $0.73
    • Emera (EMA CN) 7:10am, $0.35
    • Exelis (XLS) 7am, $0.41
    • Fortis (FTS CN) 7am, $0.26
    • Genesee & Wyoming (GWR) 6am, $1.22
    • Madison Square Garden (MSG) 7:30am, $0.22
    • Newcastle Investment (NCT) 6:30am, $0.12
    • NextEra Energy (NEE) 7:30am, $1.39
    • NorthStar Realty Finance (NRF) 7:30am, $0.24
    • NV Energy (NVE) 6:31am, $0.89
    • Oaktree Capital (OAK) 8:30am, $1.00
    • Pembina Pipeline (PPL CN) Aft-mkt, $0.26
    • SNC-Lavalin (SNC CN) 8:27am, $(0.47)
    • Spirit Aerosystems (SPR) 7:30am, $0.61
    • Telephone & Data Systems (TDS) 7:58am, $(0.10)
    • Ultra Petroleum (UPL) 8am, $0.35
    • United States Cellular (USM) 7:59am, $0.09
    • Washington Post (WPO) 8:30am, est. N/A

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Palm Oil Enters Bull Market on Best Weekly Gain in Three Years
  • Wheat Analysts Most Bearish in Year on Record Crop: Commodities
  • Gold Heading for First Drop in Three Weeks on Fed Speculation
  • Palm Oil Supplies in Indonesia Seen Disrupted by Prolonged Rains
  • WTI Crude Heads for Longest Run of Weekly Declines Since 2012
  • Copper Rises as China Manufacturing Expands More Than Estimated
  • Wheat Poised for Worst Week Since June as India to Boost Supply
  • China Refined Lead Market Seen by Antaike in Deficit in 2014
  • India Iron Ore Exports to Remain Subdued, Morgan Stanley Says
  • OPEC October Crude Production Climbs in Survey on Iraqi Gain
  • U.S. Gulf Crude Sinks to Lowest Against Imports: Energy Markets
  • Wal-Mart to Widows Will Feel U.S. Food Stamp Cuts Starting Today
  • Founder of Top India Commodity Exchange Resigns Amid Probe
  • China Gold Imports From Hong Kong Fall on Premium, Slow Demand

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