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    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

TODAY’S S&P 500 SET-UP – December 30, 2013


As we look at today's setup for the S&P 500, the range is 42 points or 1.33% downside to 1817 and 0.96% upside to 1859.                

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: 2.62 from 2.61
  • VIX closed at 12.46 1 day percent change of 1.05%

MACRO DATA POINTS (Bloomberg Estimates):

  • 10am: U.S. Pending Home Sales M/m, Nov., est. 1% (pr -0.6%)
  • 10:30am: Dallas Fed Manufacturing Dec. (prior 1.9)
  • 3pm:  New York Fed releases Jan. Treasury purchase schedule
  • U.S. Rates Weekly Agenda
  • FX Weekly agenda

GOVERNMENT:

    • House, Senate not in session
    • Kerry sets plans to travel to Mideast on New Year’s Day
    • Extended jobless benefits ran out Dec. 28 for 1.3m people
    • China’s cash-for-votes scandal highlights graft challenge

WHAT TO WATCH:

  • Crocs CEO to retire as Blackstone takes $200m Stake
  • Obamacare enrollments reach 1.1m with surge in Dec.
  • Ford brand widens U.S. sales lead over Toyota
  • Sanofi multiple sclerosis drug fails to win FDA approval
  • Australia iron-ore exports curbed; ports close before storm
  • Mondelez to sell Snackwell’s stake to private-equity firm: WSJ
  • CFTC’s Gensler says regulators reached “right balance” on rules
  • Hyundai Motor replaces U.S. chief to revitalize 2014 sales
  • UBS unit among China brokers facing penalties for Dec. 20 trades
  • China local debt rises to $2.95 trillion amid economic risks
  • Chesapeake Energy paying to move gas it doesn’t have: WSJ
  • Merck working on plans to reshape R&D, WSJ reports

EARNINGS:

    • Cal-Maine Foods (CALM) 6:30am,  $1.30

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Trades Above $100 for Second Day as Oil Stockpiles Decline
  • Gold Declines on Way to Worst Year Since 1981 as Silver Drops
  • Copper Traders Bullish as Hedge Funds Bet on Gains: Commodities
  • World’s Biggest Iron-Ore Port Is Shut as Cyclone Nears Australia
  • Coffee Climbs in New York on Index Reweighting; Cotton Advances
  • Aluminum Reaches Eight-Week High as U.S. Rebound Spurs Buying
  • Corn Drops to One-Week Low as Rain Eases Argentine Crop Stress
  • Rubber Falls to Post Annual Decline as China Inventory Climbs
  • Rebar in Shanghai Drops to Two-Month Low as Inventory Climbs
  • Most-Accurate Oil Forecasters See Second Year of Losses: Energy
  • Natural Gas Gains on Forecast for Cold Start to New Year in U.S.
  • Sesa Sterlite Restarts Iron-Ore Mines, Easing Supplies in India
  • Natural Gas Consumption Likely Sluggish Into 2014: Bear Case
  • Cotton Prices Seen Declining as China Poised to End Stockpiling

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