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