THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 12, 2013


As we look at today's setup for the S&P 500, the range is 30 points or 1.35% downside to 1748 and 0.34% upside to 1778.               

SECTOR PERFORMANCE

THE HEDGEYE DAILY OUTLOOK - 1A

THE HEDGEYE DAILY OUTLOOK - 2A

 

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10A                                                                                                                                                                  

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.44 from 2.44
  • VIX closed at 12.53 1 day percent change of -2.87%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:30am: NFIB Small Bus Optimism, Oct., est. 93.5 (pr 93.9)
  • 7:45am: ICSC weekly sales
  • 8:30am: Chicago Fed Nat Activity Index, Sept., est. 0.15
  • 8:55am: Johnson/Redbook weekly sales
  • 11:30am: U.S. to sell $33b 3M bills, $29b 6M bills
  • 1pm: Fed’s Lockhart speaks on economy in Montgomery, Ala.
  • 1pm: Fed’s Kocherlakota speaks in St. Paul, Minn.
  • 1pm: U.S. to sell $30b 3Y notes

GOVERNMENT:

    • Senate Commerce, Science and Transportation Cmte votes on FTC nominee Terrell McSweeny
    • CFPB Director Richard Cordray reports to Congress
    • 1pm Transportation Sec. Anthony Foxx, HUD Sec. Shaun Donovan unveil Location Affordability Portal, which will help consumers calculate combined costs of housing, transportation
    • 1pm: Sen. Elizabeth Warren, D-Mass., delivers keynote speech at event co-sponsored by Roosevelt Institute, Americans for Financial Reform
    • 2pm: Bloomberg Government holds webinar on heath care exchanges
    • 2pm: Sec. of State John Kerry hosts swearing-in for U.S. Ambassador-designate to Japan Caroline Kennedy
    • 2:30pm: Senate Banking Cmte hears semi-annual report from CFPB Director Cordray
    • 4pm: Quinnipiac Univ. Polling Institute holds news conference on new poll on President Obama, Congress, health care

WHAT TO WATCH:

  • Liberty Global said to be in talks to buy Intel’s TV service
  • Apple may try to beat record $1b Samsung patent verdict
  • Citigroup, BNY Mellon records sought by IRS in ZKB probe
  • Sports agency IMG said to cut list of bidders as TPG out
  • Tyco said to be in talks to sell Korean security unit: WSJ
  • Apple says iPad mini w/high-definition screen can now ship
  • Boeing to weigh all options for 777X if union rejects deal
  • Indonesia unexpectedly raises key rate to shore up rupiah
  • U.K. inflation slows more than forecast to least in a year
  • U.K. RICS house-price index hits 11-yr high on Help to Buy
  • Debit cards end two-decade streak of U.S. gains against credit
  • Pentagon contracts fell 66% in Oct. as shutdown deepened cuts

AM EARNS

    • DISH Network (DISH) 6am, $0.43 - Preview
    • DR Horton (DHI) 6am, $0.40 - Preview
    • EchoStar (SATS) 6am, $(0.06)
    • Gran Tierra Energy (GTE) 6am, $0.21
    • Lexicon Pharmaceuticals (LXRX) 6am, $(0.05)
    • Yingli Green (YGE) 6am, ($0.25)
    • Rockwood Holdings (ROC) 6:30am, $0.47
    • NRG Energy (NRG) 6:56am, $0.80
    • AECOM Technology (ACM) 7am, $0.79
    • Dean Foods (DF) 7am, $0.14
    • First Majestic Silver (FR CN) 7am, $0.14
    • Sarepta Therapeutics (SRPT) 7am, $(0.61)
    • Shoppers Drug Mart (SC CN) 7:30am, $0.81
    • Argonaut Gold (AR CN) 7:30am, $0.03
    • Dendreon (DNDN) 7:30am, $(0.34)
    • Ariad Pharmaceuticals (ARIA) 7:35am, $(0.44)
    • NuStar Energy (NS) 9:02am, $0.27
    • NuStar GP Holdings (NSH) 9:09am, $0.32

PM EARNS:

    • MarkWest Energy Partners (MWE) 4:01pm, $0.24
    • MBIA (MBI) 4:01pm, $0.15
    • NQ Mobile (NQ) 4:02pm, $0.27
    • Babcock & Wilcox (BWC) 4:09pm, $0.55
    • Medivation (MDVN) 4:10pm, $(0.25)
    • SINA/China (SINA) 4:30pm, $0.32
    • Taro Pharmaceutical Industries (TARO) 5:05pm

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • U.S. Demand to Export Crude Seen Soaring Amid Hydrocarbons Boom
  • Iron Ore Rallying as Cargoes to China Reach Record: Commodities
  • WTI Crude Declines From November High as Stockpiles Seen Rising
  • Gold Swings Near Three-Week Low on Outlook for U.S. Stimulus
  • Copper Drops as Investors Await China Policy Meeting’s Outcome
  • Corn Touches Two-Week High as Crop Forecast Less Than Estimated
  • Cocoa Rises on Buy Orders Amid Shortage Forecast; Robusta Falls
  • Iran’s Full Return to Oil Market Remains Perilous, Barclays Says
  • Orange Juice’s Double Bottom Signals Rally: Technical Analysis
  • Shanghai Rebar Little Changed as Investors Await Party Plenum
  • Gasoline Supplies Probably Fell for Fifth Week: Energy Markets
  • EON Qatari LNG Contract Seen as Trend for Shorter-Term Contracts
  • Blackstone to Billionaires Boost Ship Bets on U.S. Fuel: Freight
  • U.S. to Become Top Oil Producer by 2015 on Shale Boom, IEA Says

THE HEDGEYE DAILY OUTLOOK - 5A  2

 

CURRENCIES

 

THE HEDGEYE DAILY OUTLOOK - 6A  2

GLOBAL PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 3A

THE HEDGEYE DAILY OUTLOOK - 4A

EUROPEAN MARKETS

 

THE HEDGEYE DAILY OUTLOOK - 7A

ASIAN MARKETS

 

THE HEDGEYE DAILY OUTLOOK - 8A

MIDDLE EAST

 

THE HEDGEYE DAILY OUTLOOK - 9A

The Hedgeye Macro Team