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TODAY’S S&P 500 SET-UP – November 4, 2013


As we look at today's setup for the S&P 500, the range is 16 points or 0.38% downside to 1755 and 0.53% 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: 2.30 from 2.31
  • VIX closed at 13.28 1 day percent change of -3.42%

MACRO DATA POINTS (Bloomberg Estimates):

  • 9:45am: ISM New York, Oct. (prior 53.6)
  • 10am: Aug., Sept. factory orders data issued in single report following govt shutdown
  • 11am: Fed buys $3b-$4b in 2019-2020 sector
  • 11:30am: U.S. to sell $33b 3M bills, $29b 6M bills
  • 11:40am: Fed’s Powell speaks in San Francisco
  • 4pm: Fed’s Rosengren speaks in Boston
  • 4pm: USDA Crop condition/progress reports

GOVERNMENT:

    • Senate in session, House not in session
    • Crist’s Fla. Gov. race may be most expensive ever in state

WHAT TO WATCH:

  • SAC Capital to plead guilty to securities fraud, NYT says
  • House cmte. interviewed Obamacare webmaster for >9 hours
  • BlackBerry bidder said to be short funding as deadline looms
  • LightSquared suing GPS makers, trade goups over promises
  • Roche to pay up to $548m for antibiotic against superbug
  • China leaders to start reform summit w/ eco. in recovery
  • Google’s Schmidt says China censorship has gotten worse
  • Anadarko may sell Chinese oil, gas assets, Reuters says
  • Tri Pointe said near $2.7b bid for Weyerhaeuser co.: Reuters
  • AMR in settlement talks w/ Fla. to resolve merger lawsuit
  • U.S. seeking broad divestitures from both cos., WSJ says
  • Muddy Waters seen right on NQ mobile payments, wrong on cash
  • Biofuel makers mount last effort to save renewables mandate
  • Food supply faces risks from climate change: NYT, citing panel
  • Investors concerned with Blackstone rental-home bond: Reuters

AM EARNS:

    • CME Group (CME) 7am, $0.73
    • Halcon Resources (HK) 7:30am, $0.07
    • Kellogg (K) 8am, $0.89 - Preview
    • Realogy (RLGY) 7am, $0.87 - Preview
    • Spectra Energy (SE) 6:30am, $0.33
    • Spectra Energy Partners (SEP) 6:34am, $0.38
    • Sysco (SYY) 8am, $0.47 - Preview
    • Targa Resources (TRGP) 7am, $0.45
    • Targa Resources Partners (NGLS) 7am, $0.30
    • Tenet Healthcare (THC) 7:30am, $0.45
    • Vulcan Materials (VMC) 8am, $0.26

PM EARNS:

    • American Equity Investment Life (AEL) 4pm, $0.45
    • Anadarko Petroleum (APC) 4:02pm, $1.16
    • BRE Properties (BRE) 4:45pm, $0.64
    • Carrizo Oil & Gas (CRZO) Aft-mkt, $0.72
    • Century Aluminum (CENX) 4pm, $(0.33)
    • CF Industries (CF) 4:05pm, $3.92
    • DDR (DDR) 5pm, $0.28
    • DryShips (DRYS) 4:05pm, $(0.06)
    • Dun & Bradstreet (DNB) 4:15pm, $1.88
    • Forest Oil (FST) 4:22pm, $0.09
    • Goodrich Petroleum (GDP) 4:15pm, $(0.72)
    • GT Advanced Technologies (GTAT) 4:15pm, $(0.01)
    • Hertz Global (HTZ) 4:13pm, $0.71
    • MannKind (MNKD) 4pm, $(0.15)
    • Marathon Oil (MRO) 5:26pm, $0.77
    • McDermott Intl (MDR) 4:10pm, $(0.02)
    • Mindray Medical Intl (MR) 5pm, $0.48
    • Pioneer Natural Resources (PXD) 4:01pm, $1.35
    • Plains All American (PAA) 4:05pm, $0.48
    • Prospect Capital (PSEC) 4:02pm, $0.33
    • Retail Properties of America (RPAI) 4:01pm, $0.24
    • Rock Tenn (RKT) 5:05pm, $2.47
    • SBA Communications (SBAC) 4:01pm, $(0.12)
    • Unum (UNM) 4pm, $0.82
    • Vornado Realty (VNO) 4:56pm, $1.10
    • Weatherford (WFT) 4:38pm, $0.21

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Bug Schiff Counters Goldman Sachs on First Drop Since 2000
  • Cheaper Chickens Seen in Record Corn Cutting Costs: Commodities
  • Corn Nears Three-Year Low on Expectations for Bigger U.S. Supply
  • Copper Falls a Third Session on Speculation Fed to Slow Stimulus
  • WTI Trades Near Four-Month Low on U.S. Crude Supply; Brent Gains
  • Gold Extends Gain in London, Rises 0.2% to $1,318.71 an Ounce
  • Robusta Coffee Gains on Vietnam Storm Speculation; Cocoa Drops
  • China Steel Prices Rising as Iron Ore Advances to Two-Month High
  • Coconut Crisis Looms as Postwar Palm Trees Age: Southeast Asia
  • Spot Silver Extends Decline to Lowest in More Than Two Weeks
  • Iran Burning Gas Worth Billions to Lead Exporters Amid Sanctions
  • South Africa Union Starts Strike Over Pay at Northam Platinum
  • Fuel-From-Soy Makers Mount Last-Ditch Lobby Push on EPA Rule
  • Canada Rail-Car Shortage Slowing Grain Exports Amid Record Crop

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