TODAY’S S&P 500 SET-UP – November 29, 2013
As we look at today's setup for the S&P 500, the range is 19 points or 0.68% downside to 1795 and 0.37% upside to 1814.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 2.47 from 2.45
- VIX closed at 12.98 1 day percent change of 1.33%
MACRO DATA POINTS (Bloomberg Estimates):
- No U.S. economic reports expected
GOVERNMENT:
- House, Senate not in session
- Washington weekly agenda for Dec. 2-6
WHAT TO WATCH:
- Australia rejects ADM’s $2b takeover of GrainCorp
- Microsoft said to lean to Mulally, Nadella in CEO search
- Basel said to target bundled debt in hunt for capital holes
- Holiday Sales: Extended Hours, Deeper Discounts
- Thanksgiving e-commerce sales rose 9% as of noon yday: IBM
- H-P said to bump Verizon as Obamacare website host
- Dish holders can’t exclude Ergen from Lightsquared bid
- Charter said to raise $25b to acquire Time Warner Cable
- Apple wins bid to dismiss privacy suit over data collection
- Apple won 76% of Japan Oct. smartphone sales, Kantar says
- France denies Hess energy exploration permits in Paris basin
- Obamacare website still frustrates some as deadline looms
- Obamacare’s small-business health exchange site delayed 1 yr
- Euro-area inflation climbs more than est.; jobless rate drops
- China’s neighbors test defense zone oversight
- Japan, U.S. to boost air surveillance in E. China Sea: Yomiuri
- NOTE: U.S. equity markets close at 1pm; bond markets at 2pm
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Palm Bull Market Extending for Mistry as Indonesian Output Drops
- Gold Bears Persist as Prices Near Year’s Low on Fed: Commodities
- Rubber Jumps Most in Six Months as Japanese Inflation Advances
- WTI Set for Longest Monthly Slide in Almost Five Years on Supply
- Gold Gains in London to Narrow Biggest Monthly Drop Since June
- Copper Rises Before Report Seen Showing Chinese Factory Growth
- Palm Oil Posts Second Monthly Gain as Indonesia Output Declines
- Rebar Posts First Monthly Gain Since August as Inventory Falls
- EU Power Network Integration Seen Delayed Again: Energy Markets
- China 2013 Total Grain Output Rises 2.1% Y/y to 601.9m Tons
- LNG New-Build Choices Loom Amid Low Usage Rates: 2014 Outlook
- Rio Suspends Gove Alumina Refinery Amid Low Prices, High Aussie
- Philippines to Decide in January if More Rice Imports Needed
- SHFE Copper Stockpiles Fall to 17-Month Low as Aluminum Climbs
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team