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TODAY’S S&P 500 SET-UP – November 11, 2013


As we look at today's setup for the S&P 500, the range is 30 points or 1.28% downside to 1748 and 0.42% upside to 1778.                                       

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: 2.44 from 2.32
  • VIX closed at 12.9 1 day percent change of -7.26%

MACRO DATA POINTS (Bloomberg Estimates):

  • 6:15am: Bundesbank’s Lautenschlaeger speaks in London
  • 12pm: Bundesbank’s Weidmann speaks in Basel
  • U.S. Rates Weekly Agenda
  • FX Weekly Agenda

GOVERNMENT:

    • Iran faces United Nations nuclear-monitoring test
    • Veteran’s Day, most federal govt. offices closed
    • EU, U.S. begin 2nd round of negotiations on Transatlantic Trade and Investment Partnership at wk-long talks in Brussels

WHAT TO WATCH:

  • Shire buying ViroPharma for $4.2b will gain blood-disease drug
  • Transocean reaches $1.1b div. accord with Icahn
  • Apple said developing curved iPhone screens, new sensors
  • Amazon introduces Sun. deliveries with U.S. Postal Service
  • China economic rebound gives boost to Xi amid reform summit
  • Cooper not yet entitled to $35/shr from Apollo, judge says
  • CPPIB/Dexus A$2.8b Commonwealth fund bid is accepted
  • “Thor” tops N.A. box office, at low end of ests. w/ $86.1m
  • Typhoon Haiyan hits Vietnam; up to 10k Philippines deaths

EARNINGS:

    • Silver Wheaton (SLW CN) 6:30am, $0.23
    • Gogo (GOGO) 7:30am, $(0.31)
    • CCL Industries (CCL/B CN) 8:15am, $0.45
    • Assured Guaranty (AGO) 4pm, $0.61
    • Sotheby’s (BID) 4pm, $(0.47)
    • Rackspace Hosting (RAX) 4pm, $0.16
    • Hologic (HOLX) 4:01pm, $0.37
    • Strategic Hotels & Resorts (BEE) 4:01pm, $0.13
    • SemGroup (SEMG) 4:05pm, $0.36
    • Sunstone Hotel Investors (SHO) 4:15pm, $0.29
    • Northern Tier Energy (NTI) 4:45pm, $0.40
    • Legacy Oil + Gas (LEG CN) 8:30pm, $0.08
    • Premier (PINC) Aft-mkt, $0.29
    • News Corp (NWSA) Aft-mkt, $0.02
    • Athlon Energy Inc (ATHL) Aft-mkt, $0.16

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Vault Opens in China as Bullion Goes From West to East
  • Hedge Funds Cut Bullish Gold Wagers on Fed Outlook: Commodities
  • Copper Rises for Third Day After China’s Industrial Production
  • Brent Rises Second Day After Iran Talks Fall Short of Agreement
  • Gold Drops to Three-Week Low as Jobs Data Spur Tapering Bets
  • Corn Extends Rebound From Three-Year Low on U.S. Harvest Outlook
  • Cocoa Falls After Bullish Bets Climb to Record; Coffee Rallies
  • Oil Bets Drop to Four-Month Low as Glut Expands: Energy Markets
  • Money Managers Cut Cocoa Net Long to 64,649 Contracts by Nov. 5
  • Gold-Mining Puts at Four-Year Low Signal Worst Is Over: Options
  • Rice to Sugar Crops Damaged in Philippines by Super Typhoon
  • Russia May Become Major LNG Supplier After Novatek’s China Deal
  • Commodities Seen by Hackett May Be Near Low of 3-Yr Bear Market
  • Palm Oil Output in Malaysia Advances to Highest in 13 Months

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