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TODAY’S S&P 500 SET-UP – November 18, 2013


As we look at today's setup for the S&P 500, the range is 30 points or 1.40% downside to 1773 and 0.27% upside to 1803.                                

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: 2.41 from 2.40
  • VIX closed at 12.19 1 day percent change of -1.46%

MACRO DATA POINTS (Bloomberg Estimates):

  • 9am: Total Net TIC Flows, Sept. (prior -$2.9b)
  • 10am: NAHB Housing Market Index, Nov., est. 56 (prior 55)
  • 12:15pm: Fed’s Dudley speaks in New York
  • 1:30pm: Fed’s Plosser speaks in Philadelphia
  • 3:45pm: Fed’s Dudley tours factory in Long Island City, N.Y.
  • 7:45pm: Fed’s Kocherlakota speaks in Minneapolis

GOVERNMENT:

    • House, Senate in session
    • Senate cmte holds hearing on Bitcoin, virtual currencies
    • Office of the Comptroller of the Currency’s Mutual Savings Association Advisory Cmte holds a public meeting on current condition, regulatory changes of mutual savings, 2pm
    • Washington Space Business Roundtable meets to discuss International Traffic in Arms Regulations, with Asst Commerce Secretary for Export Administration Kevin Wolf, 12:30pm

WHAT TO WATCH:

  • Google opens showrooms in 6 U.S. cities taking page from Apple
  • Xi’s China reform plan sets scene for local govt clampdown
  • Xi expands power as China leaders pledge major changes
  • Chinese stocks jump as H shrs gain most since 2011 on reforms
  • Salesforce revamps software for mobile as users move to tablets
  • Microsoft board said to refine CEO choices at Nov. 18 meeting
  • Democrats downplay lawmaker defections over Affordable Care Act
  • Prokhorov’s Onexim agrees to buy Kerimov’s stake in Uralkali
  • Sony monitors PlayStation “issues” as sales top 1m
  • Lloyds sells Scottish Widows fund-management arm to Aberdeen
  • Advent to buy Dutch software maker Unit4 for $1.6b
  • “Thor” tops N.A. box office for a second weekend
  • Volcker rule compliance may be postponed by 1 yr: FT
  • Disney seeing hurdles in shifting market for games: NYT
  • Sheldon Adelson readies push to oppose Internet gambling: WPost

EARNINGS:

    • AmeriGas Partners (APU) Aft-mkt, $(0.48)
    • Brocade (BRCD) 4:05pm, $0.18
    • Jacobs Engineering (JEC) Aft-mkt, $0.87
    • JinkoSolar (JKS) 6am, $2.74
    • Salesforce.com (CRM) 4:05pm, $0.09 - Preview
    • Semtech (SMTC) 4:30pm, $0.34
    • Tyson Foods (TSN) 7:30am, $0.70
    • UGI (UGI) 4:45pm, $(0.08)
    • Urban Outfitters (URBN) 4pm, $0.45 - Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Brent Crude Declines for a Second Day; Citigroup Lowers Forecast
  • Gold Bears Return Before Yellen Signals More Easing: Commodities
  • Norway Prime Minister Says Time Has Come to Cut Oil Reliance
  • Gold-Laden Brides in India Defying Singh as Culture Triumphs
  • Jiangxi Copper Agrees on 31% Increase in Fees With Freeport
  • Gold Falls as Investors Sell After Advance on Stimulus Outlook
  • CME Hack Reawakens Electronic Threat to Financial Services Firms
  • Hedge Funds Cut WTI Crude Bets to Five-Month Low: Energy Markets
  • Prokhorov Agrees to Buy Stake in Uralkali Valued at $3.5 Billion
  • Rain Slowing French Corn Harvest Widens Premium to U.S. Prices
  • Qatar Readies Food Contingency Plan on Regional Trade Disruption
  • Copper Falls After Funds Turn Bearish and Investors Favor Stocks
  • Libyans Begin Strike in Tripoli to Protest Militia Violence
  • Vietnam Coffee Harvesting Disrupted as Rains Lash Main Region

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