THE HEDGEYE DAILY OUTLOOK

01/10/14 07:27AM EST

TODAY’S S&P 500 SET-UP – January 10, 2014


As we look at today's setup for the S&P 500, the range is 25 points or 0.71% downside to 1825 and 0.65% upside to 1850.                                                   

SECTOR PERFORMANCE

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EQUITY SENTIMENT:

 

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CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 2.54 from 2.54
  • VIX  closed at 12.89 1 day percent change of 0.16%

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Nonfarm Payrolls, Dec., est. 196k (prior 203k)
  • 8:30am: Unemployment Rate, Dec., est. 7% (prior 7%)
  • 8:45am: Fed’s Lacker speaks in Raleigh, N.C.
  • 10am: Wholesale Inventories m/m, Nov., est. 0.4% (pr 1.4%)
  • 10am: IBD/TIPP Economic Optimism, Jan., est. 46 (pr 43.1)
  • 11am: Fed to purchase $2.5b-$3.5b in 2019-2020 sector
  • 1pm: Fed’s Bullard speaks in Indianapolis
  • 1pm: Baker Hughes rig count

GOVERNMENT:

    • 9:30am: Joint Economic Cmte holds hearing on Dec. employment, w/ testimony from BLS Commissioner Erica Groshen
    • 9:30am: House Nat. Resources Cmte panel hearing on seismic exploration of Atlantic outer continental shelf
    • 10am CFTC holds closed meeting on enforcement matters
    • 12:30pm: Amtrak President Joseph Boardman delivers address on passenger rail issues; National Press Club

WHAT TO WATCH:

  • Dec. job gain in U.S. probably capped best year since 2005
  • Debt rule faces dilution as regulators heed bank warnings
  • ICE said to hire Evercore to sell NYSE technology divisions
  • Google X staff meet w/FDA pointing to possible medical device
  • Apple cuts China iPhone online, store price for holiday sale
  • Goldman Sachs denies Singapore stock dump, countersues Quah
  • LightSquared awaits regulatory approval; funding deadline near
  • YRC may drop after Teamsters reject accord tied to refinancing
  • Aegerion gets U.S. subpoena on rare-disease drug marketing
  • Chevron says 4Q net income fell as energy production declined
  • Bazaarvoice PowerReviews deal can be blocked by U.S.: judge
  • PCs mark steepest drop in 2013 with 10% decline in shipments
  • U.K. industrial output unexpectedly stagnated in Nov.
  • China’s imports rise to help nation claim trade crown
  • NTT Docomo adds most Japan users for first time since 2011
  • U.S. Funding Deadline, Retail Sales, GE: Wk Ahead Jan. 11-17

EARNINGS:

    • No earnings expected from S&P 500

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • China’s Ore to Coal Imports Reach Records in ’13 as Demand Gains
  • Amazon Soy Route Seen Extending Brazil Lead on U.S.: Commodities
  • Nickel Surges After Report Indonesia Detained Chinese Vessels
  • WTI Crude Rises From Eight-Month Low on Signs Losses Excessive
  • Gold Moving-Average Oscillator Returns Most Through 2013 Plunge
  • Gold, Silver Imports by India Tumble as Government Keeps Curbs
  • Wheat Futures Head for Longest Weekly Losing Streak in Two Years
  • Chalco Says Has Enough Bauxite Stored Ahead of Indonesia Ban
  • Rubber Posts Biggest Weekly Drop Since April on China Demand
  • Red Kite Says Copper Outlook Turns Positive With Glut Delayed
  • LNG Export Surge Boosting Prices for Australian Buyers: Energy
  • Sugar Traders Turn Most Bearish in Four Months on Indian Exports
  • OPEC Outages Propping Up Oil Price Mask Weak Demand: Bear Case
  • American Water Expands Military Business With $288 Million Deal
  • Gold Rises Before Jobs Data as Investors Weigh Demand, Tapering

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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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