THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – January 6, 2014


As we look at today's setup for the S&P 500, the range is 35 points or 0.78% downside to 1817 and 1.13% upside to 1852.                                       

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: 2.58 from 2.60
  • VIX closed at 13.76 1 day percent change of -3.30%

MACRO DATA POINTS (Bloomberg Estimates):

  • 10am: ISM Non-Mfg Composite, Dec., est. 54.5 (prior 53.9)
  • 10am: Factory Orders, Nov., est. 1.7% (prior -0.9%)
  • 11:00am: Fed to purchase $1b-$1.5b in 2036-2043 sector
  • 11:30am: U.S. to sell $28b 3-mo. bills, $26b 6-mo. bills

GOVERNMENT:

    • Senate to vote on confirmation of Yellen as Fed Chairman
    • Senate to consider unemployment benefit extension
    • FEMA’s David Miller delivers opening remarks at National Research Council meeting on flood insurance, 10:15am
    • Liz Cheney to end bid for Wyoming Senate seat, CNN, NYT report

WHAT TO WATCH:

  • Yellen poised for Senate confirmation amid taper pullback
  • JPMorgan’s Madoff case penalties may be announced Tues.: WSJ
  • Boeing to build 777X at Seattle hub as union drops pensions
  • Liberty’s Sirius deal may help finance TW Cable offer
  • Men’s Wearhouse starts tender for Jos. A Bank, nominates two
  • Carlyle, KKR said to be in $1.2b talks to buy Fleury
  • Teva said near to naming Vigodman CEO after Levin ouster
  • Intel CEO Krzanich gives preshow keynote for International CES
  • JPMorgan settles Pittsburgh bank suit probing U.S. deal
  • Google rolls out alliance to bring Android into car systems
  • GM’s OnStar in talks w/Chinese providers for 4G car services
  • Nvidia chip update narrows PC-smartphone gap to target gamers
  • Ford China deliveries surge 49% in 2013, overtaking Toyota
  • U.S. office rents increase in gradual market recovery: Reis
  • Apple changes board bylaws in step to address diversity issue
  • Bitcoin tops $1,000 again on Zynga accepting virtual currency

EARNINGS:

    • Park Electrochemical (PKE) 6:30am, $0.28
    • Sonic (SONC) 4:01pm, $0.13

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Copper Declines Amid Concern Demand Is Poised to Slow in China
  • Gold Swings Below 3-Week High as Investors Weigh Dollar, Demand
  • Gold Analysts Get Most Bullish in a Year After Rout: Commodities
  • Frost May Damage as Much as 15% of Florida Orange Crop, MDA Says
  • Brent Rises for First Time in Five Days on U.S. Cold Snap, Iraq
  • Sugar Extends Two-Week Low on Excess Supplies; Coffee Advances
  • ‘Polar Pig’ Threatens Coldest U.S. Weather in Two Decades
  • LME Hires Sloan from NYSE Euronext as COO, Head of Strategy
  • Cotton Imports by China May Tumble to Six-Year Low, Group Says
  • China Rejecting U.S. Corn as First Shipment From Ukraine Arrives
  • China Smog Drives Lump Ore to Record Premium: Chart of the Day
  • U.S. Winter-Wheat Plantings Rise to Six Year High, Survey Shows
  • Gold’s Point-Figure Signals Further Declines: Technical Analysis
  • U.S. Exporters Sell Wheat to Unknown Destination, Corn to Mexico
  • Wheat Extends Rally as Cold Weather Threatens U.S. Crop Outlook

THE HEDGEYE DAILY OUTLOOK - 5A

 

CURRENCIES

 

THE HEDGEYE DAILY OUTLOOK - 6A

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