THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 27, 2013


As we look at today's setup for the S&P 500, the range is 14 points or 0.43% downside to 1795 and 0.35% upside to 1809.                                                            

                                                                   

SECTOR PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 1

 

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EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.43 from 2.42
  • VIX closed at 12.81 1 day percent change of 0.16%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, Nov. 22 (prior -2.3%)
  • 8:30am: Init. Jobless Claims, Nov. 23, est. 330k (pr 323k)
  • 8:30am: Durable Goods, Oct., est. -2% (pr 3.7%, rev 3.8%)
  • 8:30am: Chicago Fed Natl Activity, Oct., est. 0.1% (pr 0.14)
  • 9:45am: Chicago Purch Mgrs Index, Nov., est. 60 (pr 65.9)
  • 9:45am: Bloomberg Consumer Comfort, Nov. 24 (prior -34.6)
  • 9:55am: U of Mich Conf., Nov. final, est. 73.1 (prior 72)
  • 10am: Freddie Mac mortgage rates
  • 10am: Index of Leading Eco Ind., Oct., est. 0.0% (pr 0.7%)
  • 10:30am: DOE Energy Inventories
  • 12pm: EIA natural-gas storage change
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • House, Senate not in session
    • 10am: Consumer Federation of America, Credit Union Natl Assn event on Holiday Consumer Spending Survey

WHAT TO WATCH:

  • Hewlett-Packard sales top ests. on corporate demand
  • HP, Whitman lose bid to dismiss investor suit over Autonomy
  • Gensler gives Wall Street 2 mos. to meet cross-border policy
  • JPMorgan pressured to reveal $13b accord complaint
  • Crocs said to discuss investment w/funds including Blackstone
  • Japan to issue icing risk warning to JAL on Boeing 787 engine
  • Position for volatility on Mon. after Black Fri., Goldman says
  • IMF may shift more bailout risk to bondholders, NYT says
  • Microsoft’s Skype enters new China JV w/GMF, China Daily says
  • Symantec to end struggling data-storage service amid overhaul
  • Morgan Stanley hiring in China being probed by DOJ: Reuters
  • KKR’s Bis Industries scraps plan for Australian share sale
  • ANA, Japan Air fly through new China zone without notice
  • German consumer confidence to rise to highest since Aug. 2007
  • U.K. economic growth accelerates on investment, homebuilding

 EARNINGS:

    • Golar LNG (GLNG) Bef-mkt, $0.41
    • Golar LNG Partners (GMLP) Bef-mkt, $0.60

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI-Brent Spread Widens for Sixth Day as U.S. Stockpiles Climb
  • Zeppelins Seen Hauling Caterpillars to Mine Siberia: Commodities
  • China Gold Imports From Hong Kong Rise to 2nd Highest on Record
  • Soybeans Reach Two-Month High as Demand Seen for U.S. Supplies
  • Copper Rises as Premiums and Stockpiles Indicate Steady Demand
  • Rebar Drops on Slowing Demand Ahead of Industrial Profit Data
  • Rubber Falls to 2-Week Low as U.S. Confidence Data Weaken Demand
  • Codelco Said to Raise Korea Copper Premium to Nine-Year High
  • U.S. Oil Glut Seen in 2015 as Export Ban Tested: Energy Markets
  • Energy Market at Mercy of Wars, Fed as Year Dawns: 2014 Outlook
  • Gold Heading for 2013 Low as Haven Demand Ebbs: Chart of the Day
  • Illegal Coal Mines Leave Hundreds Dead in Ukraine’s East: Energy
  • China May Delay U.S. Corn Buying as Cargo Held, Shanghai JC Says
  • Crude Traders Skeptical Iran Deal Will Bolster Oil Supplies

 

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CURRENCIES

 

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GLOBAL PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 3

 

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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