THE HEDGEYE DAILY OUTLOOK

 

 

THE HEDGEYE DAILY OUTLOOK

 

TODAY’S S&P 500 SET-UP – November 7, 2013


As we look at today's setup for the S&P 500, the range is 20 points or 0.93% downside to 1754 and 0.20% upside to 1774.                                                             

                                                                  

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: 2.35 from 2.35
  • VIX closed at 12.67 1 day percent change of -4.52%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: BoE seen holding bank rate at 0.5%
  • 7:45am: ECB seen holding rates at 0.5%
  • 8:30am: ECB’s Draghi holds press conference
  • 8:30am: Init. jobless claims, Nov. 2, est. 335k (prior 340k)
  • 8:30am: GDP, 3Q, est. 2.0% (prior 2.5%)
  • 8:30am: U.S. announces amounts of 3Y notes, 10Y notes, 30Y bonds to be sold at following week’s quarterly refunding
  • 9:45am: Bloomberg consumer comfort (prior -37.6)
  • 10am: Mortgage delinquencies, 3Q (prior 6.96%)
  • 10am: Freddie Mac mortgage rates
  • 10:30am: EIA natural-gas storage change
  • 11am: Fed to buy $1.25b-$1.75b in 2036-2043 sector
  • 1:30pm: ECB’s Draghi speaks in Hamburg
  • 1:30pm: Fed’s Dudley speaks in NY
  • 1:50pm: Fed’s Stein speaks in Chicago
  • 3pm: Consumer credit, Sept., est. $12b (prior $13.625b)

GOVERNMENT:

    • FAA to outline civilian drone guidelines
    • 9:30am: Army Chief of Staff Gen. Raymond Odierno; Chief of Naval Operations Adm. Jonathan Greenert; Commandant of the Marine Corps Gen. James Amos; and Chief of Staff of the Air Force Gen. Mark Welsh III, testify before Senate Armed Svcs Cmte hearing on sequestration and national defense
    • 10am: Treasury Sec. Jack Lew tours exporter of telecom equipment in Gaithersburg, Md.
    • 10am: Senate Banking, Housing and Urban Affairs Committee holds hearing on “Housing Finance Reform: Essential Elements to Provide Affordable Options for Housing.”

WHAT TO WATCH:

  • Twitter IPO raises $1.8b at $26/shr, pricing above range
  • Twitter IPO yields one of smallest fee rates this year
  • Microsoft’s internal CEO candidate list said to include Turner
  • Toll Bros. to buy Shapell Homes for ~$1.6b
  • Emirates pressing Boeing on 777X performance before deal
  • Southwest, JetBlue showing interest in AMR-US Airways slots
  • Qualcomm looked at some BlackBerry assets, CEO says
  • Fmr. AIG real estate exec. settles pay case for $274m
  • Washington voters defeat measure requiring GMO food labels: AP
  • Chinese domestic fund managers to offer U.S. products: WSJ
  • U.S. Oct. retail sales may have slowed vs Sept.

AM EARNS:

    • AES (AES) 6am, $0.34
    • AMC Networks (AMCX) 8:30am, $0.87
    • Ameren (AEE) 7:48am, $1.23
    • American Realty Capital (ARCP) 6am, $0.19
    • ANSYS (ANSS) 7:09am, $0.75
    • Apache (APA) 8am, $2.16 - Preview
    • Apollo Global Management (APO) 7am, $0.93
    • BCE (BCE CN) 6:52am, C$0.78
    • Cablevision Systems (CVC) 8:30am, $0.12
    • Calpine (CPN) 6am, $0.65
    • Canadian Tire Corp (CTC/A CN) 7:31am, C$1.77
    • CI Financial (CIX CN) 11:27am, C$0.39
    • Coty (COTY) 6am, $0.29
    • Crescent Point Energy (CPG CN) 8am, C$0.30
    • Dynegy (DYN) 7:30am, $0.14
    • Fifth & Pacific (FNP) 7:32am, $(0.01)
    • Flowers Foods (FLO) 6:30am, $0.21
    • Great-West Lifeco (GWO CN) 10:24am, C$0.59
    • Himax Technologies (HIMX) 6am, $0.11
    • IGM Financial (IGM CN) 10:30am, C$0.79
    • International Game Technology (IGT) 6:30am, $0.34
    • Laredo Petroleum Holdings (LPI) 6:55am, $0.16
    • Manulife Financial (MFC CN) 6am, C$0.32
    • Martin Marietta Materials (MLM) 8:10am, $1.46
    • New Residential Investment (NRZ) 6:30am, $0.18
    • Radian Group (RDN) 7am, $(0.07)
    • RioCan Real Estate Investment (REI-u CN) 7am, C$0.40
    • Rockwell Automation (ROK) 7am, $1.53
    • Royal Gold (RGLD) 8am, $0.24
    • Saputo (SAP CN) 9:39am, C$0.76
    • Scripps Networks Interactive (SNI) 7am, $0.84
    • SouFun Holdings (SFUN) 6:45am, $0.88
    • Starwood Property Trust (STWD) 6:45am, $0.54
    • Stratasys (SSYS) 7am, $0.42
    • Tim Hortons (THI CN) 7:30am, C$0.77
    • TMX Group (X CN) 6am, C$0.74
    • Towers Watson (TW) 6am, $1.33
    • Vermilion Energy (VET CN) 6:55am, C$0.77
    • Visteon (VC) 6am, $1.16
    • Wendy’s (WEN) 7am, $0.06 - Preview
    • Westlake Chemical (WLK) 6am, $2.20
    • WhiteWave Foods (WWAV) 8am, $0.18
    • Windstream Holdings (WIN) 6:15am, $0.09
    • WPX Energy (WPX) 7am, $(0.21)

PM EARNS:

    • Allscripts Healthcare (MDRX) 4:01pm, $0.09
    • Amarin (AMRN) 4:02pm, $(0.32)
    • Arena Pharmaceuticals (ARNA) 4:03pm, $(0.12)
    • AuRico Gold (AUQ CN) Aft-mkt, $0.02
    • AVG Technologies (AVG) 4:15pm, $0.47
    • CareFusion (CFN) 4:02pm, $0.39
    • Clean Energy Fuels (CLNE) 4:05pm, $(0.23)
    • Credicorp (BAP) 6pm, $2.43
    • CubeSmart (CUBE) 4:30pm, $0.24
    • Groupon (GRPN) 4:01pm, $0.01 - Preview
    • Mettler-Toledo Intl (MTD) 4:01pm, $2.60
    • Molycorp (MCP) 4:01pm, $(0.28)
    • Monster Beverage (MNST) 4:05pm, $0.57
    • Nektar Therapeutics (NKTR) 4:15pm, $(0.40)
    • Northern Oil and Gas (NOG) 4:30pm, $0.32
    • NVIDIA (NVDA) 4:20pm, $0.25
    • Pengrowth Energy (PGF CN) 4:30pm, C$0.02
    • Pharmacyclics (PCYC) 4:01pm, $0.76
    • Priceline.com (PCLN) 4:01pm, $16.22 - Preview
    • Santarus (SNTS) 4:05pm, $0.33
    • tw telecom (TWTC) 4:01pm, $0.12
    • Walt Disney (DIS) 4:15pm, $0.76 - Preview
    • Westar Energy (WR) 5pm, $0.99

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • LME Changes Warehousing Rules to Shorten Withdrawal Times
  • Brazil Soy Crop Surpassing U.S. Expands Global Glut: Commodities
  • Coffee Falls to 7-Year Low on Latin American Supply; Sugar Drops
  • Corn Touches Three-Year Low as USDA Seen Raising Crop Outlook
  • Brent Falls to Lowest Since July on Warm Weather Across Europe
  • World Food Prices Advance for First Time in Six Months on Sugar
  • Rebar Climbs on Speculation Air Quality Efforts May Curb Output
  • Gold Swings Between Gains and Losses in London Before U.S. Data
  • Tin Shipments From Indonesia Jump as Trade Rule Gains Traction
  • ArcelorMittal Turns Optimistic on 2014 as Profit Beats Estimates
  • China Seen by Klapwijk Boosting Gold Reserves as Prices Drop
  • Crude Forecasters Diverging as Contango Emerges: Energy Markets
  • Warmer Start to Winter Weakens Gas Demand Throughout Europe
  • Crude Traders Sticking With Brent Amid Manipulation Claims

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CURRENCIES

 

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GLOBAL PERFORMANCE

 

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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