THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 19, 2013


As we look at today's setup for the S&P 500, the range is 30 points or 0.87% downside to 1776 and 0.81% upside to 1806.                  

                                                                                                             

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: 2.40 from 2.39
  • VIX closed at 13.1 1 day percent change of 7.47%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Employment Cost Index, 3Q, est. 0.5% (prior 0.5%)
  • 9:am: Chicago Fed’s annual agriculture conference
  • 11am: Fed to purchase $2.75b-$3.5b in 2021-2023 sector
  • 11:30am: U.S. to sell 4W bills
  • 2:15pm: Fed’s Evans speaks in Chicago
  • 4:30pm: API weekly oil inventories
  • 7pm: Fed’s Bernanke speaks to Economists Club in Washington

 GOVERNMENT:

    • 8:40am Institute of Medicine holds workshop on impact of Affordable Care Act on preparedness resources,  programs. Asst HHS Sec. Nicole Lurie to speak. National Academy of Sciences
    • 1:30pm: Vice President Joe Biden travels to Houston to speak on infrastructure, economy; Transportation Sec. Anthony Foxx attends.
    • 1pm: Media briefing by Press Sec. Jay Carney.
    • 1pm:U.S. Department of the Interior Bureau of Reclamation holds a public meeting and technical workshop on cost allocation study for the Central Valley Project
    • 3pm: Senate Cmte on Homeland Security and Governmental Affairs holds hearing on risks of virtual currencies, with Bitcoin Foundation General Counsel Patrick Murck. 342 Dirksen
    • 2pm: 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

WHAT TO WATCH:

  • JPMorgan said to agree to final details of $13b settlement
  • JPMorgan said in talks to sell $4b private-equity stakes
  • U.S. opens probe of fires in Tesla’s Model S electric sedan
  • OECD cuts global growth forecasts on emerging-market slowdown
  • Apple can pursue U.S. block of Samsung smartphones, court says
  • Apple said to be in talks to Buy Israel’s PrimeSense
  • Sony said hiring Bain to find $100m in entertainment cuts
  • Dropbox said to be seeking more than $8b value in funding
  • Yellen nomination for Fed chairman to get panel vote this wk
  • NLRB accuses Wal-Mart of illegally firing workers who protested
  • Cepsa to Buy Coastal Energy for $2.2b to raise Asian Output
  • CLP agrees to pay $1.8b for stakes in two Exxon units
  • European car sales rise second straight month on Spain surge
  • Camp aide said to tell groups tax proposal possible by January
  • U.K. said to investigate traders’ personal currency dealing
  • Spain sells 1-yr bills to yield 0.678%, lowest on record

EARNINGS:

    • Best Buy Co (BBY) 7am, $0.12 - Preview
    • Campbell Soup Co (CPB) 7:30am, $0.86
    • Diana Shipping (DSX) 7:45am, $(0.06)
    • Dick’s Sporting Goods (DKS) 7:30am, $0.39 - Preview
    • George Weston (WN CN) 8am, $1.44
    • Home Depot (HD) 6am, $0.90 - Preview
    • La-Z-Boy (LZB) 4pm, $0.26
    • Medtronic (MDT) 7:15am, $0.90 - Preview
    • Saks (SKS) 8am, $0.11
    • TJX Cos. (TJX) 8:28am, $0.74 - Preview
    • Trina Solar (TSL) 6:30am, $(0.21)
    • Valspar (VAL) 7:30am, $0.92

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Indonesia Weighs Ore Ban as Citigroup Increases Nickel Forecast
  • Gold No Slam-Dunk Sell in China as Aunties Pounce: Commodities
  • WTI-Brent Nears Widest Since March Amid Stimulus Taper Talk
  • Copper Declines to Three-Month Low on U.S. Builder Sentiment
  • Cocoa Halts Rally as Ghana May Accelerate Sales From Next Crop
  • Rubber Declines for Second Day as Yen’s Rebound Weakens Appeal
  • Gold Swings as Investors Weigh Stimulus After Rally in Equities
  • Wall Street Pushes Back on CFTC’s Advisory for Overseas Swaps
  • Egypt’s Thirst for Cheap Gas Threatens Export Prospects: Energy
  • Japan Seeks to Buy Most Milling Wheat in Three Months in Tender
  • Zinc Premium Said to Be Steady in Past Month During Supply Talks
  • Onions Bring Tears to RBI’s Rajan as Prices Surge: India Credit
  • Rio Tinto, Paladin Uranium Mines in Namibia Face Water Shortage
  • Rebar Advances in Shanghai on Lower Stockpiles, Demand Outlook

THE HEDGEYE DAILY OUTLOOK - 5

 

CURRENCIES

 

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GLOBAL PERFORMANCE

 

 

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EUROPEAN MARKETS

 

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ASIAN MARKETS

 

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MIDDLE EAST

 

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The Hedgeye Macro Team

 

 

 

 

 

 

 

 

 

 

 

 

 


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