THE HEDGEYE DAILY OUTLOOK

01/03/14 07:35AM EST

TODAY’S S&P 500 SET-UP – January 3, 2014


As we look at today's setup for the S&P 500, the range is 47 points or 1.25% downside to 1809 and 1.31% upside to 1856.

SECTOR PERFORMANCE

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EQUITY SENTIMENT:

 

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CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.61 from 2.61
  • VIX closed at 14.23 1 day percent change of 3.72%

MACRO DATA POINTS (Bloomberg Estimates):

  • 9:45am: ISM New York, Dec., prior 69.5
  • 10:30am: EIA natural-gas storage change
  • 11am: DOE Energy Inventories
  • 12:45pm: Fed’s Plosser speaks in Philadelphia
  • 1pm: Baker Hughes rig count
  • 1:15pm: Fed’s Stein speaks in Philadelphia
  • 1:30pm: Fed’s Lacker speaks in Baltimore
  • 2:30pm: Fed’s Bernanke speaks in Philadelphia

 GOVERNMENT:

    • House, Senate not in session

WHAT TO WATCH:

  • Dec. Auto Sales: SAAR May Be 15.8m vs 16.4m rate in Nov.
  • U.S. East Coast facing blizzard as snow, wind ground flights
  • Cox agrees to buy back AutoTrader stake at $7b valuation: WSJ
  • Rupert Murdoch’s Fox sells Star China stake to management group
  • Goldman raised 2012 pay for top U.K. bankers as rivals cut
  • BP bid to stop Gulf oil spill payments to get fast court review
  • Manhattan home sales rise to yr-end record in buyer deal rush
  • Cisco’s video chief De Beer takes leave to tend ailing relative
  • USDA pares rules targeting healthier school meals: Reuters

EARNINGS:

    • Lindsay (LNN) 7am, $0.92 - Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Copper Falls Most in Two Weeks as China Services Measure Slumps
  • Brent Crude Rises Most in Two Weeks as Libyan Ports Remain Shut
  • Gold Extends Rally From Biggest Loss Since ’81; Platinum Gains
  • Wheat Recovers From 19-Month Low as Arctic Freeze May Hurt Crops
  • Rebar Declines in Shanghai After Biggest Producers Lower Prices
  • Robusta Coffee Declines to One-Month Low as Cocoa Rebounds
  • Natural Gas Set for Second Weekly Decline Before Inventory Data
  • Rubber Output From Key Producers Rises 4.7% in 2013, Group Says
  • WTI Oil May Decline Next Week on Fed Outlook, Survey Shows
  • U.S. East Coast Facing Blizzard as Snow, Wind Ground Flights
  • German Power Costs Seen Dropping for Fourth Year on Glut: Energy
  • U.K.’s Warmest December in 10 Years Hinders Gas Demand in Europe
  • China Thermal Coal Prices May Climb on Japan Demand: Bear Case
  • India 2013-14 Coffee Output Estimate Cut to 311,500 Tons

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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

 

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The Hedgeye Macro Team

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