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