THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 26, 2013


As we look at today's setup for the S&P 500, the range is 17 points or 0.58% downside to 1792 and 0.36% upside to 1809.                           

SECTOR PERFORMANCE

THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2A

 

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.43 from 2.45
  • VIX closed at 12.79 1 day percent change of 4.32%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:45am/8:55am: ICSC/Redbook weekly retail sales
  • 8:30am: Sept., Oct. building permits; Oct. est. 930k
  • NOTE: Oct. housing starts delayed until Dec. 18
  • 9am: S&P/Case-Shiller 20-City m/m, Sept., est. 0.9%
  • 9am: S&P/CS Home Price Index, Sept., est. 165 (prior 164.53)
  • 9am: FHFA House Price Index m/m, Sept., est. 0.4% (pr 0.3%)
  • 10am: Conference Bd Consumer Conf Index, Nov., est. 72.5
  • 10am: Richmond Fed Manuf. Index, Nov., est. 4 (prior 1)
  • 10am FDIC announces 3Q bank, thrift industry earnings
  • 4:30pm: API weekly oil inventories

GOVERNMENT:

    • House, Senate aren’t in session
    • Obama to discuss economy during California visit; to meet with film studio chiefs, says Hollywood Reporter
    • Supreme Court to issue list of cases it plans to take up
    • Washington State genetically modified food labeling vote count expected to be completed
    • Obama seeks Iran deal support; Reid says Senate my act

WHAT TO WATCH:

  • FDIC’s Hoenig to weigh easing bank leverage rule he championed
  • Berkshire said to cut Energy Future bond stake by a third
  • Bayer in talks to buy cancer partner Algeta for $2.4b
  • Samsung bid to put Apple patent case on hold rejected by judge
  • Einhorn’s Greenlight Capital has $402m stake in Micron
  • Silver Lake technology unit said to plan new $1b fund
  • Intel said to seek $500m in sale of web-based TV startup
  • Bain said in talks to sell Applied Systems for $1b+: Reuters
  • Citi loses bid to block Abu Dhabi investment arbitration
  • Sony says entertainment target conservative amid cost cut push
  • China said to plan crackdown on banks’ loan limit evasion
  • Prologis to lift Japan rents, build warehouses on Abenomics
  • SpaceX delays rocket launch as Musk cites being “careful”
  • Online gambling begins today in NJ

AM EARNS:

    • Alimentation Couche Tard (ATD/B CN) 8:37am, $1.23
    • Barnes & Noble (BKS) 8:30am, ($0.03)
    • Beacon Roofing Supply (BECN) 8am, $0.62
    • Brown Shoe (BWS) 7am, $0.59
    • Chico’s FAS (CHS) 7:15am, $0.25
    • Children’s Place (PLCE)  6am, $1.85
    • Cracker Barrel (CBRL) 7am, $1.15
    • DSW (DSW US) 7am, $0.58
    • Eaton Vance (EV) 8:35am, $0.60
    • Hormel Foods (HRL) 6:30am, $0.54
    • Laclede Group (LG) 8am, ($0.07)
    • Movado Group (MOV) 7am, $0.87
    • Pall (PLL) 7am, $0.68
    • Signet Jewelers (SIG) 6:30am, $0.42
    • Tiffany & Co. (TIF) 6:59am, $0.58

PM EARNS:

    • Analog Devices (ADI) 4pm , $0.58
    • Hewlett-Packard (HPQ) 4:04pm, $1.00 -- Preview
    • Infoblox (BLOX) 4:05pm, $0.09
    • TiVo (TIVO) 4:01pm, $0.06

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Fix Drawing Scrutiny Amid Knowledge Tied to Daily Eruption
  • Frozen-Turkey Pileup Signals Thanksgiving Discount: Commodities
  • WTI-Brent Crude Oil Spread Narrows for First Time in Five Days
  • Soybeans Drop From Two-Month High on South American Crop Outlook
  • Japan Dismantles Rice Output Policy as Abe Targets Farming
  • Gold Swings Above Four-Month Low as Investors Weigh Fed Stimulus
  • Copper Swings as Investors Weigh Demand View Against Drop Bets
  • Sugar Drops to 11-Week Low in New York on Ample Supply Outlook
  • Iron Ore Seen Dropping From Westpac to Goldman as Supply Expands
  • Canada Grain Exports From Vancouver Seen Rising to All-Time High
  • Brazil Ethanol Losing Competitiveness to U.S.: Chart of the Day
  • Marcellus Goliath Transforms Region to Gas Trade: Energy Markets
  • Copper Market Tightens in 3Q on Demand Rise, Output Decline
  • Tate & Lyle Urges EU to Abolish a Sugar Duty as Bloc Quotas End

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