THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – December 3, 2013


As we look at today's setup for the S&P 500, the range is 33 points or 1.05% downside to 1782 and 0.78% 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: 2.50 from 2.51
  • VIX closed at 14.23 1 day percent change of 3.87%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:45am/8:55am: ICSC/Redbook weekly retail sales
  • 9:45am: ISM New York, Nov. (prior 59.3)
  • 10am: IBD/TIPP Economic Optimism, Dec., est. 43, (pr 41.4)
  • 1pm: Fed’s Lacker testifies on bankruptcy to House subcmte
  • 2pm: Fed to buy $3b-$4b 2019-2020 notes
  • 4:30pm: API weekly oil inventories
  • 5pm: Total Vehicle Sales, Nov., est. 15.8m (prior 15.15m)
  • Domestic Vehicle Sales, Nov., est. 12.2m (prior 11.73m)

GOVERNMENT:

    • House in session, Senate out until Dec. 9
    • 9:15am: SEC Chairwoman Mary Jo White delivers remarks at meeting of European Corporate Governance Inst.
    • 10am: House Oversight and Government Reform panel holds hearing on design-build contract
    • 10am: American Antitrust Inst. holds Private Antitrust Enforcement conf. National Press Club
    • 11am: Obama hosts Colombian President Juan Manuel Santos at White House
    • 1:25pm: U.S. Chamber of Commerce President Thomas Donohue discusses regulatory environment for business community
    • VP Joe Biden meets with Japan Prime Minister Shinzo Abe, Deputy Prime Minister Taro Aso in Tokyo

WHAT TO WATCH:

  • S&P says U.S. fraud lawsuit over ratings is too big to work
  • Apple buys real-time access to Twitter’s feed with Topsy deal
  • Wang Jianlin’s AMC Entertainment to seek $368m in IPO
  • Tesla says German agency’s review clears model S after fires
  • Fed doesn’t object to Goldman, JPMorgan capital plans
  • Hong Kong confirms city’s first human case of H7N9 bird flu
  • Google cuts prices on cloud services in Amazon, IBM challenge
  • Yuan passes euro to be second-most used trade-finance currency
  • Biden to stress opposition to China defense zone in Japan visit
  • Rio Tinto to halve capital spending by 2015 in focus on cash
  • Toshiba to acquire most OCZ assets out of bankruptcy for $35m
  • Number of federally-insured U.S. banks falls to 6,891: WSJ
  • Sony Playstation 4 sales top 2.1 million
  • Cyber Monday sales soar to record

EARNINGS:

    • Bank of Montreal (BMO CN) 6:30am, C$1.57 -- Preview
    • Bob Evans Farms (BOBE) 4pm, $0.55
    • Golub Capital BDC (GBDC) 4:15pm, $0.33
    • Guidewire Software (GWRE) 4:01pm, $(0.16)
    • OmniVision Technologies (OVTI), 4:18pm, $0.43
    • United Natural Foods (UNFI) 4:05pm, $0.54

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Copper Falls as Reviving U.S. Economy Fuels Tapering Speculation
  • Gold Bulls Retreat as Prices Drop to Four-Month Low: Commodities
  • WTI Crude Gains a Third Day; OPEC Set to Maintain Output Limit
  • Gold Pares Gains in London, Is Little-Changed at $1,219.34/Oz
  • Wheat Climbs From Biggest Drop in a Month as Demand Increases
  • Sugar Reaches Three-Year Low as Indian Dispute Ends; Cocoa Drops
  • Rebar Rises to Seven-Week High on China Demand Growth Outlook
  • China May Halt Corn Imports From U.S. on GMO Cargoes, Yigu Says
  • Volcker Rule Said Set for Dec. 10 Approval by U.S. Regulators
  • Wider Oil-Price Gap Seen Aiding U.S. Refiners: Chart of the Day
  • Hedge Fund Bullish Gas Bets Surge on Cold Blast: Energy Markets
  • Rio Tinto to Halve Capital Spending by 2015 in Focus on Cash
  • West of Shetland Has Substantial Exploration Potential, BP Says
  • Korea Exchange Targets Gold Trading as Park Hunts Tax Revenue

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

 

 

 

 

 

 

 

 

 

 

 

 

 


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