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TODAY’S S&P 500 SET-UP – October 1, 2014


As we look at today's setup for the S&P 500, the range is 29 points or 0.78% downside to 1957 and 0.70% upside to 1986.                                               

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: 1.91 from 1.92
  • VIX closed at 16.31 1 day percent change of 2.07%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, Sept. 26 (prior -4.1%)
  • 8:15am: ADP Employment Change, Sept., est. 205k (prior 204k)
  • 9:45am: Markit US Mfg PMI, Sept. final, est. 57.9 (prior 57.9)
  • 10am: ISM Manufacturing, Sept., est. 58.5 (prior 59)
  • 10am: Construction Spending m/m, Aug., est. 0.5% (prior 1.8%)
  • 10:30am: DOE Energy Inventories

GOVERNMENT:

    • Senate, House out of session
    • 9:30am-1pm: Energy Sec. Moniz speaks at energy security event
    • Panel afterwards incl. IHS Vice Chair Yergin, White House counselor Podesta
    • 10:30am: Former President Bill Clinton  World Energy Engineering Congress keynote address
    • 2pm: SEC Commissioner Gallagher speaks at mkt structure conf.
    • 2:45pm FINRA CEO Richard Ketchum and SEC head of trading, Steve Luparello, also speak
    • 2:45pm: SEC Chair White speaks at panel at Intl Organization of Securities Commissions meeting in Rio De Janeiro
    • 4pm: Sec. of State Kerry to meet with Chinese counterpart Wang Yi at State Dept
    • U.S. ELECTION WRAP: Latino No-Shows; Senate Control Consensus

WHAT TO WATCH:

  • Pershing Square Raises Size of IPO to $2.73b From About $2b
  • Eurozone Sept. Manufacturing PMI 50.3; Est. 50.5
  • First Ebola Case Diagnosed in U.S. Confirmed in Dallas: CDC
  • Japan Stock Orders of $617b Scrapped in Trading Error
  • Bristol-Myers Transfers $1.4b of Pension Risk to Prudential
  • Nomura, Goldman Sachs Among Firms to Lead Japan Post IPO
  • FAA Orders New Pilot Displays for 1,300 Boeing Jets: WSJ
  • Oracle Seeks Partners in China to Expand Cloud Service Business
  • Fannie, Freddie Investors Lose Suits Over Profits Taken by U.S.
  • Wal-Mart Judge Says Retailer Must Face Mexican-Bribe Probe Suit
  • Apple Said to Add Gold Option to IPad in Effort to Boost Sales
  • BNY Mellon to Shutter Its Derivatives Sales, Trading Group
  • U.S. Said to Reach Accord With Brazil Ending Cotton Trade Fight
  • Hong Kong Leader Jeered by Protesters on China National Day
  • President Obama meets with Israeli Prime Minister Netanyahu
  • GM, Chrysler, Ford Sept. Auto sales; SAAR may drop vs Aug.

EARNINGS:

    • Acuity Brands (AYI) 8:56am, $1.22

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Corn Extends Drop to Five-Year Low as U.S. Supply Tops Estimates
  • Goldman Sees Corn to Soybeans Extending Losses on U.S. Supplies
  • WTI Crude Rebounds Before U.S. Stockpile Report; Brent Climbs
  • Nickel Declines to Six-Month Low as Stockpiles Expand to Record
  • Arabica Coffee Rises on Outlook for Brazil’s Crop; Cocoa Falls
  • Platinum Drops to 5-Year Low as Palladium Declines on Car Sales
  • Top Cotton Trader Says Prices Need to Fall More to Cut Surpluses
  • U.S. Oil Exports Seen Breaking 1957 Record as Traders Dodge Ban
  • Palm Oil Declines After Posting Biggest Monthly Gain Since 2009
  • Marubeni Offloads $1 Billion Canadian Coal Mine for a Buck
  • Gas Allure in U.K. Power Poised to Extend Into Winter on Outages
  • Worst Seen Over for Global Oil Prices as Saudis Cut Output
  • Shanghai-London Parity Signals Aluminum Rally: Chart of the Day
  • Mideast Turmoil Keeps Gasoline at 45 Cents in Oil States: Energy

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