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TODAY’S S&P 500 SET-UP – December 2, 2013


As we look at today's setup for the S&P 500, the range is 18 points or 0.49% downside to 1797 and 0.51% upside to 1815.                                                      

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: 2.51 from 2.46
  • VIX closed at 13.7 1 day percent change of 5.55%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Fed’s Bernanke at “College Fed Challenge” in D.C.
  • 8:58am: Markit US PMI Final, Nov., est 54.3
  • 10am: ISM Manufacturing, Nov., est. 55.0 (prior 56.4)
  • 10am: Sept/Oct construction spending data released
  • 7pm: Fed’s Potter speaks to Money Marketeers in New York

GOVERNMENT:

    • House in session
    • House Oversight and Govt Reform Cmte hears from Washington, D.C., planning officials on whether to alter a 1910 federal law restricting building heights in the U.S. capital
    • Biden visits Japan as part of Asia trip w/ China air-zone issue in forefront

WHAT TO WATCH:

  • Amazon testing drones for same-day package delivery: CBS
  • Black Friday weekend spending drop pressures U.S. profit
  • ComScore says online holiday-to-date sales up 3% to $20.6b
  • NRF sees 141m shopping Thanksgiving wknd vs 139m y/y
  • Cyber Monday seen drawing 131m shoppers, up 1.6% y/y
  • U.K. fund mgrs press FCA for more disclosure on forex-rigging
  • GrainCorp CEO resigns after $2b ADM takeover blocked
  • ADM’s GrainCorp bid would’ve been blocked by others: Abbott
  • Ex-BP engineer begins first criminal trial from 2010 oil spill
  • Barrick’s Thornton said to seek China deal to rebuild miner
  • Panasonic in talks for auto parts makers in expansion hunt
  • Stakes for Obamacare raised as U.S. says repair goals reached
  • China’s manufacturing tops ests. in growth boost for Li
  • China sets IPO reform plan signaling end of listings freeze
  • Facebook in talks for 1st acquisition in India: Standard
  • PTTEP, Pertamina agree to buy $1.3b Hess Indonesia assets
  • UBS plans EU1.75b bonds buyback to lower funding cost
  • Euro-area manufacturing expanded more than estimated in Nov.
  • NYC derailment kills 4, may snarl commuter traffic

EARNINGS:

    • Ascena Retail (ASNA) 4pm, $0.32
    • Krispy Kreme (KKD) 4:03pm, $0.15
    • Thor Industries (THO) 4:15pm, $0.71

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Gold Falls on Speculation U.S. Data to Boost Case for Tapering
  • Worst Raw-Material Slump Since ’08 Seen Deepening: Commodities
  • OPEC VIENNA: Ministers Expected to Arrive Today Before Meeting
  • Copper Declines Amid Signs Investors Are Shunning Raw Materials
  • Soybeans Rise to 10-Week High as Demand for U.S. Supply Climbs
  • Iron Ore Exports to China Decline From Port Hedland in November
  • Palm Oil Retreats a Second Day as Exports From Malaysia Decline
  • Barrick’s Thornton Said to Seek China Deal to Rebuild Miner
  • OPEC Inaction Masks Looming Supply Glut in 2014: Energy Markets
  • Stocks Triumph Third Month in Best Run Since 2009 as Gold Sinks
  • Robusta Coffee May Climb to October Level: Technical Analysis
  • Pirates Wielding Grenades Spur Japan to Ease Samurai-Era Gun Ban
  • EU Periphery Refineries Most Threatened by Closure: 2014 Outlook
  • WTI Crude Gains as China’s Manufacturing Growth Beats Estimates

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