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