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
EQUITY SENTIMENT:
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
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team