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TODAY’S S&P 500 SET-UP – December 31, 2013


As we look at today's setup for the S&P 500, the range is 38 points or 0.98% downside to 1823 and 1.08% upside to 1861.      

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: 2.61 from 2.60
  • VIX closed at 13.56 1 day percent change of 8.83%

MACRO DATA POINTS (Bloomberg Estimates):

  • 7:45am/8:55am: Weekly retail sales from ICSC/Redbook
  • 9am: S&P Case-Shiller 20 City M/m, Oct., est. 1% (pr 1.03%)
  • 9:45am: Chicago Purchasing Mgr, Dec., est. 61.0  (pr 63.0)
  • 10am: Consumer Confidence Index, Dec., est. 76.3 (pr 70.4)

GOVERNMENT:

    • House, Senate not in session

WHAT TO WATCH:

  • Last trading day of 2013; S&P 500 set for best yr since ’97
  • Volcker rule court halt request withdrawn by bankers group
  • BP asks court to block payments not directly linked to spill
  • Netflix tests subscription fees based on no. of account users
  • Apollo Tyres surges in Mumbai after Cooper drops merger plan
  • Fisker creditors seek asset sale through bidding process
  • UnitedHealth faces probe after dropping 2k doctors: N.Y. Post
  • Berkshire to exchange $1.4b in Phillips 66 stock for unit
  • Apple e-books monitor should be free to query Cook, U.S. argues
  • Boeing to move 777x wing output on union rejection: Reuters
  • China approves $353m of share sales as IPOs to resume
  • Gold with silver heading for worst yr since ’81 on asset sales
  • Corn set for worst drop since ’60 as crop prices slump
  • Singapore economy grew 3.7% in 2013, Prime Minister Lee says

EARNINGS:

    • No S&P 500 earnings reports scheduled for today

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Commodities Set for First Drop in 5 Years as Corn to Gold Tumble
  • Corn Set for Worst Drop Since ’60 as Crop Prices Slump on Output
  • Gold Bulls Retrench as Price Drops Most in 32 Years: Commodities
  • WTI Set for Fourth Gain in Five Years as U.S. Stockpiles Decline
  • Lead Falls as Some Investors Sell After Industrial-Metals Rally
  • Gold With Silver Heading for Worst Year Since ’81 on Asset Sales
  • Palm Oil Posts First Annual Gain Since 2010 as Demand Surges
  • Rebar Posts Monthly Loss Amid Concern on Local Government Debt
  • Sugar Futures Rebound, Narrowing Annual Decline; Cocoa Rises
  • Europe Loses Out on 90% of Oil Use Growth Beyond OECD: Bear Case
  • Hedge Fund Crude Wagers Climb to Highest Since September: Energy
  • China Gold Imports From Hong Kong Slump as Price Declines
  • Iron Ore Miners Seek to Restart Port, Rail as Cyclone Fades
  • Gazprom’s Pipe Control May Hinder Independent Gas: Bear Case

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