THE HEDGEYE DAILY OUTLOOK

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


As we look at today's setup for the S&P 500, the range is 45 points or 1.74% downside to 1810 and 0.70% upside to 1855.                             

                                              

SECTOR PERFORMANCE

 

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EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10                                                                                                                                                                  

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.60 from 2.58
  • VIX closed at 12.33 1 day percent change of -1.20%

MACRO DATA POINTS (Bloomberg Estimates):

  • 10:30am: EIA natural gas storage change
  • 11am: DOE inventories
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • No major U.S. government news expected today

WHAT TO WATCH:

  • Textron to buy Beechcraft for $1.4b to boost lineup
  • U.S. budget easing cuts signed by Obama along with defense bill
  • Microsoft’s Nokia deal said to face China limits on patent fees
  • Apple renews request for sales ban on older Samsung products
  • Takeda stops development of TAK-875 diabetes drug
  • Audi plans to invest $30.3b through 2018 to challenge BMW
  • LDK Solar proposes cash-out or exchange of securities
  • Fastest Japan inflation since ’08 stokes wage pressures
  • Shanghai GM to recall almost 1.5m vehicles in China
  • China’s audit chief pledges checks of government debt, spending
  • Yildiz, maker of Godiva, purchases DeMet’s for $221m
  • ISS tweak to recommendations may shake up some boards: WSJ

EARNINGS:

    • No earnings expected from S&P 500

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Indonesia to Regulate Metal Exports for Companies With Smelters
  • Copper Gains in London in Catch Up as Prices in New York Decline
  • Indian Probes Risk Revival of $160 Billion Projects: Commodities
  • Wheat Slides a Fourth Day, Nears 19-Month Low on Supply Outlook
  • Gold Seen Falling as Gains in Equities Sap Demand From Investors
  • WTI Swings on U.S. Jobless Claims as Crude Supplies Seen Falling
  • Aluminum Seen Extending Loss to $1,600 in First Half on Supply
  • Palm Oil Posts Second Weekly Gain as Weak Ringgit Spurs Demand
  • Zambia May Draft Glencore, Vedanta Power-Prise Rise by February
  • Indonesia 11-Mo. Nickel Ore Output at 47m Tons, Ministry Says
  • Worst Fuel Oil Loss Since 2011 Seen Easing on Import Cut: Energy
  • Workers at Total’s Largest French Oil Refinery Continue Strike
  • OECD Oil Inventory Rises to Highest Level Since April 2010
  • Rubber Advances for Second Day as Yen Weakens to Five-Year Low

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CURRENCIES

 

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GLOBAL PERFORMANCE

 

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EUROPEAN MARKETS

 

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ASIAN MARKETS

 

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MIDDLE EAST

 

THE HEDGEYE DAILY OUTLOOK - 9

 

 

The Hedgeye Macro Team

 

 

 

 

 

 

 

 

 

 

 

 

 


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