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
EQUITY SENTIMENT:
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
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
