THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 15, 2013


As we look at today's setup for the S&P 500, the range is 24 points or 1.15% downside to 1770 and 0.19% upside to 1794.       

                                                                                                                       

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 12.37 1 day percent change of -1.20%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Import Price Index m/m, Oct., est. -0.5% (prior 0.2%)
  • 8:30am: Empire Manufacturing, Nov., est. 5.00 (prior 1.52)
  • 9:15am: Industrial Production m/m, Oct., est. 0.2% (prior 0.6%)
  • 10am: Wholesale Inventories m/m, Sept., est. 0.4% (prior 0.5%)
  • 11am: Fed buys $0.75b-$1b in 2024-2031 sector
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • 9am: House to consider H.R.3350, “Keep Your Health Plan Act of 2013;” last votes no later than 3pm
    • 9:30am: U.S. Chief Negotiator Dan Mullaney, EU Chief Negotiator Ignacio Garcia Bercero hold press conf. in Brussels following EU-U.S. trade talks
    • 10am: Janet Woodcock, dir., FDA’s Center for Drug Evaluation and Research, testifies at House Energy and Commerce hearing on implementation of FDA Safety and Innovation Act

WHAT TO WATCH:

  • Moody’s downgrades 4 U.S. banks on federal support review
  • Kimberly-Clark plans to spin off $1.6b health-care unit
  • Google win in copyright suit may bolster web search dominance
  • Berkshire adds $3.7b Exxon stake in biggest bet since IBM
  • Paulson sticks with gold wager as Soros buys mining companies
  • Soros joins Ubben in taking Microsoft stake as dividend raised
  • Icahn discloses holdings in Apple, Nuance
  • Credit card cos. report Oct. charge-offs, delinquencies
  • Wall Street bid on cross-border swaps quashed by U.S. regulator
  • AMR bid for merger suit deal said to turn on meeting U.S. number
  • Morgan Stanley said to seek broker dual status in mortgage push
  • AstraZeneca, generic drugmakers face class action on Nexium
  • N.Y. Fed seeks dismissal of examiner’s suit over Goldman Sachs
  • Barrick, Goldcorp said to seek sale of Marigold mine in Nevada
  • Comcast said to plan to sell movies through its cable service
  • Zulily raises $253m, pricing IPO above increased range
  • China to release Plenum details in next wk: Morgan Stanley
  • UBS, Sumitomo Mitsui had talks on investment bank venture: WSJ
  • U.S. investigates major banks’ currency trading: NYT
  • Eli Lilly CEO sees no rev. gain for at least a yr: Le Temps

EARNINGS:

    • Maximus (MMS) 6:30am, $0.49

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Billionaire Paulson Sticks With Gold Wager as Prices Rebound
  • Gold Analysts More Bullish on Fed Stimulus Outlook: Commodities
  • Rice Plan Signals End of Era as New World Farmers Beat Old Japan
  • WTI Oil May Gain on Signs Fed to Maintain Stimulus, Survey Shows
  • Wheat Rises on Import Demand Gain as Egypt Buys French Supply
  • Gold Swings in London as Investors Weigh Fed Stimulus Outlook
  • India’s Vegetable Oil Imports Rise 4.8% to Record in 2012-2013
  • Copper Declines on China Demand Concern as Power Spending Slows
  • U.K. Gas Climbs to 7-Mos. High as Cooler Weather to Boost Demand
  • Rebar Has Weekly Loss With China Leaders Silent on Policy Detail
  • Gasoline Profit Plunge Pressures Europe Refiners: Energy Markets
  • Shale Revolution Spreads With Record Wells Outside U.S.: Energy
  • Yellen Says Review of Bank Commodity Activity Could Bring Limits
  • WTI Set for Longest Run of Weekly Losses Since 1998 on Supplies

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

 

 

 

 

 

 

 

 

 

 

 

 

 



Another French Revolution?

"Don't be complacent," writes Hedgeye Managing Director Neil Howe. "Tectonic shifts are underway in France. Is there the prospect of the new Sixth Republic? C'est vraiment possible."

read more

Cartoon of the Day: The Trend is Your Friend

"All of the key trending macro data suggests the U.S. economy is accelerating," Hedgeye CEO Keith McCullough says.

read more

A Sneak Peek At Hedgeye's 2017 GDP Estimates

Here's an inside look at our GDP estimates versus Wall Street consensus.

read more

Cartoon of the Day: Green Thumb

So far, 64 of 498 companies in the S&P 500 have reported aggregate sales and earnings growth of 6.1% and 16.8% respectively.

read more

Europe's Battles Against Apple, Google, Innovation & Jobs

"“I am very concerned the E.U. maintains a battle against the American giants while doing everything possible to sustain so-called national champions," writes economist Daniel Lacalle. "Attacking innovation doesn’t create jobs.”

read more

An Open Letter to Pandora Management...

"Please stop leaking information to the press," writes Hedgeye Internet & Media analyst Hesham Shaaban. "You are getting in your own way, and blowing up your shareholders in the process."

read more

A 'Toxic Cocktail' Brewing for A Best Idea Short

The first quarter earnings pre-announcement today is not the end of the story for Mednax (MD). Rising labor costs and slowing volume is a toxic cocktail...

read more

Energy Stocks: Time to Buy? Here's What You Need to Know

If you're heavily-invested in Energy stocks it's been a heck of a year. Energy is the worst-performing sector in the S&P 500 year-to-date and value investors are now hunting for bargains in the oil patch. Before you buy, here's what you need to know.

read more

McCullough: ‘My 1-Minute Summary of My Institutional Meetings in NYC Yesterday’

What are even some of the smartest investors in the world missing right now?

read more

Cartoon of the Day: Political Portfolio Positioning

Leave your politics out of your portfolio.

read more

Jim Rickards Answers the Hedgeye 21

Bestselling author Jim Rickards says if he could be any animal he’d be a T-Rex. He also loves bonds and hates equities. Check out all of his answers to the Hedgeye 21.

read more