THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 14, 2013


As we look at today's setup for the S&P 500, the range is 20 points or 0.90% downside to 1766 and 0.22% upside to 1786.                                                   

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: 2.43 from 2.40
  • VIX closed at 12.52 1 day percent change of -2.34%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Init. Jobless Claims, Nov. 9, est. 330k (prior 336k)
  • 8:30am: Nonfarm Productivity, 3Q, est. 2.2% (prior 2.3%)
  • 8:30am: Trade Balance, Sept., est. -$39.0b (prior -$38.8b)
  • 9am: Fed’s Plosser speaks on monetary policy in Washington
  • 9:45am: Bloomberg Consumer Comfort (prior -37.9)
  • 10am: Senate Banking Committee meets on Yellen nomination
  • 10am: Freddie Mac mortgage rates
  • 10:30am: EIA natural gas storage
  • 11am: DOE inventories
  • 11am: Fed buys $2.75b-$3.5b in 2020-2023 sector
  • 12:45pm: Bundesbank’s Nagel speaks in Wart, Germany
  • 1pm: U.S. sells $16b 30Y bonds
  • 1:45pm: BoE’s Miles speaks in Dallas

GOVERNMENT:

    • 9:30am: House Energy and Commerce Cmte meets on EPA’s greenhouse-gas standards for new power plants
    • 10am: House Science Cmte hears from EPA Administrator Gina McCarthy on transparency, accountability
    • 10am: House Education and Workforce Cmte holds hearing on effects of health-care law on schools
    • 3:30pm: President Obama speaks on economy in Cleveland

WHAT TO WATCH:

  • Yellen says U.S. economy must improve before Fed tapers QE
  • Cisco 2Q adj. EPS, revenue ests. miss analyst estimates
  • Cisco suppliers, peers fall post-mkt after 2Q view misses ests.
  • Boeing’s largest union rejects swapping pensions for 777X
  • Facebook said to offer $3b for Snapchat to attract teens
  • Pershing, Berkshire among those to file as 13F deadline approaches
  • Samsung said to plan Galaxy smartphone with wraparound display
  • Lilly triples investment in growing mkt for diabetes products
  • Berkowitz seeks to acquire two insurers from Fannie, Freddie
  • GM CEO Akerson may step down as soon as next yr, Reuters says
  • Apollo, Lee said to explore Capella Healthcare buyout: Reuters
  • Redfin raises $50m in funding led by Tiger, T. Rowe Price
  • HP, Google suspend Chromebook 11 sales after overheating reports
  • HUD said to fail in bid to sell $450m of FHA mortgages
  • Houghton Mifflin raises $219m pricing IPO below range
  • Europe recovery wanes as Germany slows, French GDP falls
  • British retail sales unexpectedly declined 0.7% in Oct.
  • Japan slowdown flashes warning to Abe as reforms await

AM EARNS:

    • B2Gold (BTO CN) 6:30am, $0.03
    • CGI Group (GIB/A CN) 6:30am, C$0.61
    • Finning Intl (FTT CN) 8am, C$0.52
    • Helmerich & Payne (HP) 6am, $1.40
    • Kohl’s (KSS) 7am, $0.86 - Preview
    • Manchester United (MANU) 7am, $0.01
    • Paladin Labs (PLB CN) 6:30am, C$0.64
    • Sally Beauty (SBH) 7am, $0.39
    • TransDigm Group (TDG) 7am, $1.71
    • Tyco Intl (TYC) 6am, $0.52 - Preview
    • Viacom (VIAB) 6:45am, $1.44 - Preview
    • Wal-Mart Stores (WMT) 7am, $1.13 - Preview

PM EARNS:

    • Agilent Technologies (A) 4:05pm, $0.76
    • Algonquin Power & Utilities (AQN CN) Aft-mkt, C$0.02
    • Applied Materials (AMAT) 4pm, $0.18
    • Boardwalk REIT (BEI-U CN) 4:10pm, C$0.82
    • Matthews Intl (MATW) 4:10pm, $0.74
    • Nordstrom (JWN) 4:04pm, $0.67 - Preview
    • Power of Canada (POW CN) 12:05pm, C$0.64
    • Youku Tudou (YOKU) 5pm, $(0.20)

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Seen Flowing East as Refiners Recast Bars for Asian Buyers
  • Starbucks Costs Retreat in Coffee Bear Market Slump: Commodities
  • Commodities Revenue at Top 10 Banks Seen Dropping 14% This Year
  • IEA Sees Libya, Iraq as Growing Risks to Oil Market Balance
  • China Gold Jewelry Demand Jumps as WGC Restates 1,000-Ton Target
  • WTI Crude’s Discount to Brent Widest Since April as Supply Rises
  • Copper Swings Between Advances, Declines on Europe Data, Yellen
  • Sumitomo Metal’s Taganito Project Ships First Nickel to Japan
  • Mistry Sees Steady Palm Oil Prices After Output Trails Estimates
  • Robusta Coffee Falls as Vietnam Harvest Advances; Sugar Retreats
  • Oil Producers Overtaking Refiners on Flood of U.S. Shale: Energy
  • India’s Gold Imports Slump in Third Quarter to Lowest Since 2009
  • Fortescue Pays Bonds Early in Rising Star Push: Australia Credit
  • Gold Demand Fell 21% Last Quarter as Investors Sold ETP Holdings

THE HEDGEYE DAILY OUTLOOK - 5

 

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