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


As we look at today's setup for the S&P 500, the range is 42 points or 1.52% downside to 1938 and 0.61% upside to 1980.                                                      

SECTOR PERFORMANCE

THE HEDGEYE DAILY OUTLOOK - 1

THE HEDGEYE DAILY OUTLOOK - 2

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10A

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 1.88 from 1.88
  • VIX closed at 14.55 1 day percent change of -9.96%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • Fed issues labor mkt conditions index, Sept.
  • Bank of Japan issues monetary policy statement
  • 11:30am: U.S. to sell $24b 3M bills, $24b 6M bills
  • 8:30pm: Fed’s George speaks in Albuquerque, N.M.

GOVERNMENT:

    • Senate, House out of session
    • 8:15am: Treasury Sec. Jack Lew speaks at Peterson Institute
    • 9:30am: Supreme Court scheduled to issue orders
    • 11:30am: Energy Sec. Ernest Moniz discusses Obama climate plan at Council on Foreign Relations
    • 3pm: Lew presides over FSOC open mtg, w/participants incl. Fed Chairwoman Yellen; Comptroller of the Currency Curry; CFPB Director Cordray; SEC Chair White; FDIC Chairman Gruenberg; CFTC Chaiman Massad; FHFA Dir. Watt; NCUA Chairman Matz

WHAT TO WATCH:

  • Hewlett-Packard Said to Plan Split Into Two Separate Companies
  • Hong Kong Protest Numbers Dwindle as Talks Bring Calm to City
  • Becton, Dickinson Agrees to Buy CareFusion in $12.2b Deal
  • Ebola Patient Fights to Live as Health Workers Are Under Watch
  • H&R Block Says Bank’s Sale Delayed Pending Regulatory Approval
  • Walt Disney, Time Warner Are Said to Renew TV Contracts With NBA
  • Euro Disney to Carry Out EU1b Disney-backed Refinancing
  • Tesla Said to Join Race to Provide Automated-Driving Functions
  • Samsung to Build $15b Chip Plant as Phone Profit Ebbs
  • Expand Trading Safeguards to Include Brokerages, SEC Members Say
  • Supreme Court Begins Term With 8 Cases on Labor, Employment
  • Macau Sept. Casino Revenue Falls 11.7%, Most in Five Years
  • Norway Would Probably Pay to Maintain Stake After Yara-CF Deal
  • S&P 500 Companies Spend Almost All Profits on Buybacks, Payouts
  • German Factory Orders Plunge Most Since 2009 in August
  • Ukraine Nears Creation of Eastern Buffer With Cease-Fire Vow
  • Lloyds Plans to Cut Thousands of Jobs to Lower Costs, Times Says

EARNINGS:

    • Container Store (TCS) 4:01pm, $0.11

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Platinum Falls Below $1,200 to Five-Year Low as Hedge Funds Sell
  • Brent Crude Rises From 27-Month Low as WTI Gains on Dollar Drop
  • Coffee Jumps to Highest Since January 2012 on Brazil Concerns
  • Soybeans Rebound as Slump May Kindle Demand; Corn Also Advances
  • Gold Speculators Extend Longest Retreat Since 2010: Commodities
  • Gold Rises From Lowest 2014 Price; Platinum Reaches 5-Year Low
  • Copper to Zinc Rise in London as Reduced Prices Attract Buyers
  • Ivory Coast’s Farmers Plan Cocoa Investment as Prices Climb
  • Tumbling Oil Prices Punish Hedge Funds Betting on Gains: Energy
  • European Milk Price Reported by LTO Fell 0.8% in Aug. YoY
  • Panamax Ship Rates Seen Rising to $17,000 a Day Next Year
  • Swaziland’s Sugar Output Seen Rising 20% by 2019 on More Growers
  • Brent Drop More Speculative Than Physical-Driven: Morgan Stanley
  • Rubber Growers to Seek Vietnam, Myanmar Support to Boost Prices
  • Brent Near $90 as Saudis OSP Cuts Test OPEC Unity: Julian Lee

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