• It's Coming...

    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

TODAY’S S&P 500 SET-UP – October 8, 2014


As we look at today's setup for the S&P 500, the range is 30 points or 0.26% downside to 1930 and 1.29% upside to 1960.                                                                 

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: 1.85 from 1.83
  • VIX closed at 17.2 1 day percent change of 11.25%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, Oct. 3 (prior -0.2%)
  • 8:30am: Fed’s Evans speaks in Plymouth, Wis.
  • 10:30am: DOE Energy Inventories
  • 1pm: U.S. to sell $21b 10Y notes in reopening
  • 2pm: Fed releases minutes from Sept. 16-17 FOMC meeting

GOVERNMENT:

    • Senate, House out of session
    • FCC deadline for replies on CMCSA/TWC Deal
    • 10am: Supreme Court to consider arguments on whether workers at Amazon.com warehouses must be paid for time spent in security screenings after they clock out
    • 2:30pm: Chinese Vice Minister of Finance Guangyao Zhu speaks at Peterson Institute talk on China-U.S. economic relations
    • 4:30pm: Former Fed Chairman Ben Bernanke speaks on future of global economy at World Business Forum
    • U.S. ELECTION WRAP: Kansas May Set New Trend; S.D. Crooning

WHAT TO WATCH:

  • U.S. Said to Ready Charges Against Banks, Traders in FX Case
  • Symantec Said to Explore Split Into Security, Storage Businesses
  • Valeant Said to Plan Raising Allergan Bid Near December Vote
  • Yum Cuts Profit Forecast as Chinese Food Scare Weighs on Sales
  • Costco Profit Tops Estimates as Same-Store Sales Increase
  • Russia Buys Rubles for a Third Day While Shifting Trading Band
  • Marchionne Says He’s ‘Done’ After 2018 Plan for Fiat Chrysler
  • Kurdish Protests Roil Turkey as Islamic State Attacks Kobani
  • Facebook to Let Advertisers Target Users Based on Locations
  • SolarCity to Finance Rooftop Systems in Shift From Leasing Model
  • Chimerix’s Antiviral Drug Improved Survival in Josh Hardy Study
  • Bard Said to Pay $21 Million in First Big Vaginal-Mesh Accord
  • World Growth Eclipses Dollar as Concern for Lew, Manufacturers
  • 18 Banks Said to Adjust Derivatives Contracts Practices: FT
  • Fed Needs Plan to Sell Mortgage-Backed Assets, Lacker Says: WSJ
  • San Francisco Supervisors Agree to Legalize Airbnb: SFGate

AM EARNS:

    • Blackhawk (HAWK) 8:30am, $0.03
    • Jean Coutu (PJC/A CN) 7am, C$0.29
    • Monsanto (MON) 8am, $(0.24) - Preview
    • RPM Intl (RPM) 7:30am, $0.78

PM EARNS:

    • Alcoa (AA) 4:03pm, $0.22 - Preview

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • London Metal Exchange Wins Appeal Over Rusal Warehouse Ruling
  • Brent Drops to 27-Month Low on IMF Growth Cut; WTI Declines
  • Gold Climbs on Demand From China After Holiday; Platinum Rallies
  • Corn Retreats in Chicago as U.S. Harvest Seen Exceeding Forecast
  • Narrow Price Gap Opens Door for African Oil Exports to U.S. East
  • Arabica Coffee Slides in New York on Speculation of Brazil Rain
  • China Steel Demand May Slow as Economy Becomes More Sustainable
  • OIL DAYBOOK: EIA Crude Build Fcast; OPEC Basket Drops Below $90
  • Northeast U.S. Homes to Pay Higher Prices for Less Gas in Winter
  • Commodity ETP Outflows Totaled $1.8 Billion in Sept: Blackrock
  • Gold With Iron Ore Seen Least Preferred Metals by Morgan Stanley
  • OPEC Crude Below $90 Won’t Spur Immediate Output Cut: Julian Lee
  • Nickel to Aluminum Decline on Demand Concern as IMF Cuts Outlook
  • Indonesia Seen Losing $20B Mining Investment on Political Risk
  • Rusal Says Will Seek to Appeal U.K. Court Ruling on LME Today

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