TODAY’S S&P 500 SET-UP – September 26, 2014
As we look at today's setup for the S&P 500, the range is 26 points or 0.20% downside to 1962 and 1.12% upside to 1988.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 1.94 from 1.95
- VIX closed at 15.64 1 day percent change of 17.86%
MACRO DATA POINTS (Bloomberg Estimates):
- 8:30am: GDP Annualized q/q, 2Q final, est. 4.6% (prior 4.2%)
- 9:55am: UofMich Confidence, Sept. final, est. 84.8 (pr 84.6)
- 1pm: Baker Hughes rig count
GOVERNMENT:
- Senate, House out of session
- 10am: Indonesian President Yudhoyono delivers remarks at GWU
- 1:15pm: TSA Administrator Pistole at Aero Club of Washington
- U.S. ELECTION WRAP: Keystone Hangs on Sen. Race; Debate Dates
WHAT TO WATCH:
- Netflix, Charter Said to Get Data Demands in Comcast Probe
- Deadline to Shut Down Sanctioned Oil Ops. w/ Russian Partners
- Obama Delivers Remarks at Global Health Security Agenda Summit
- Alibaba Bears Emerging to Short 8.9 Million Shares After IPO
- Apple’s IPhone Software Snafu Has Links to Flawed Maps
- Apple Releases iOS 8 Update to Fix iPhone 6, Plus Bugs
- Symantec Appoints Interim Chief Michael Brown as Permanent CEO
- GM CFO Says Ratings Upgrade Aids Loan Unit to Support Car Sales
- Intel Spending $1.5b to Bolster China Phone Market Access
- Chiquita Sweetens Fyffes Merger Terms After Rival Approach
- New ABC App Lets Mulitasking Fans Post Clips Fast
- Iraqi Leader Seeks Decisive Airstrikes to End Extremist Terror
- U.K. May Start Iraq Strikes Within Days of Parliament Vote
EARNINGS:
- BlackBerry (BB CN) 7am, ($0.16) - Preview
- Finish Line (FINL) 7:05am, $0.60
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Copper Rebounds From 14-Week Low Before Figures on U.S. Growth
- Top Palm Oil Growers Scrap Export Tax Amid Battle for Buyers
- Cheaper Energy to Grain Signals Tame U.S. Inflation: Commodities
- Soybeans Extend Drop to Lowest Since 2010 on U.S. Crop Prospects
- WTI Oil Set for Second Weekly Gain Before GDP Data; Brent Rises
- Gold Falls Before GDP to Inflation Reports as Silver Holds Gains
- Philippine Lawmaker Files Bill Aiming to Ban Ore Exports by 2021
- Nuclear Plants Across Emerging World Defy Japan Concerns: Energy
- Saudi Arabia Said to Plan Steady Oil Output for Rest of 2014
- Europe Seen Sustaining Russian Gas Cut During Normal Winter
- European Gold Sales Total 6.8 Tons in Final Year of Accord
- Polar Ice Research for Climate Clues Means Having an Armed Guard
- Soybean Traders Bearish for Seventh Week as Harvest Accelerates
- Oil Curve Errs as U.S. Sales to Shrink Spread: Chart of the Day
- Natural Gas Pricing Outlook Restrained in U.S. ’Shoulder’ Months
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
