THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – October 9, 2014


As we look at today's setup for the S&P 500, the range is 45 points or 1.98% downside to 1930 and 0.31% upside to 1975.        

                                                                                                                       

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: 1.87 from 1.87
  • VIX closed at 15.11 1 day percent change of -12.15%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Init. Jobless Claims, Oct. 4, est. 295k (prior 287k)
  • 8:45am: Bloomberg Oct. U.S. Economic Survey
  • 9:45am: Bloomberg Consumer Comfort, Oct. 5 (prior 34.8)
  • 10am: Wholesale Inventories, Aug., est. 0.3% (prior 0.1%)
  • 10:15am: Fed’s Bullard speaks in St. Louis
  • 10am: Freddie Mac mortgage rates
  • 10:30am: EIA natural-gas storage change
  • 11am: ECB’s Draghi, Fed’s Fischer speak in Washington
  • 11am: U.S. announces plans for auctions of 3M/6M/1Y bills
  • 1pm:  U.S. to sell $13b 30Y bonds in reopening
  • 1:10pm: Fed’s Tarullo speaks in Washington
  • 1:15pm: Fed’s Lacker speaks in Asheville, N.C.
  • 1:30pm: Fed’s Fischer speaks in Washington
  • 3:40pm: Fed’s Williams speaks in Las Vegas

 

GOVERNMENT:

    • Senate, House out of session
    • President Obama speaks on economy
    • 8am: Financial Services Roundtable holds Global Financial Summit, participants incl. CFTC Chairman Timothy Massad
    • 9am: IMF Managing Director Christine Lagarde, World Bank President Jim Yong Kim preview IMF, World Bank annual mtgs
    • 9:15am: Sec. of State John Kerry, U.K. Foreign Sec. Philip Hammond at Boston global climate change, clean energy event
    • 11am: ECB President Mario Draghi speaks at Brookings Institution; Draghi, Fed Board Vice Chairman Stanley Fischer follow w/conversation
    • 3pm: Homeland Security Sec. Jeh Johnson at CSIS discussion on border security
    • U.S. ELECTION WRAP: Abortion Issue in N.H.; Kansas Sen. Debate

 

WHAT TO WATCH:

  • Alcoa Earnings Rebound as Aluminum Use Rises in Autos, Aerospace
  • Barclays to Pay $20m to Settle Libor Suit, Plaintiffs Say
  • McClendon Said to Weigh Bid for Freeport’s California Assets
  • Gap Tumbles After Saying Murphy Will Step Down as CEO Next Year
  • AMD Appoints Lisa Su Chief Executive, Replaces Rory Read
  • Twitter News Head Schiller Exits as Executive Turnover Continues
  • Icahn Says He Plans to Send Open Letter to Apple CEO Tim Cook
  • Russia Moves Ruble Band Most Since March, Spends $1.85b
  • Nurse Tested for Ebola in Australia After Volunteering in Africa
  • Worldwide PC Sales Declined 1.7% in Third Quarter, IDC Says
  • Morgan Stanley Bankers Poised for Biggest Wall Street Bonus Bump
  • Tesla to End ‘The D’ Suspense to Stay Ahead on Electric Autos
  • Boeing Predicts Demand for 1,340 New Planes in Northeast Asia
  • Brooklyn Home Prices Reach Record as New York Buyers Bid Higher
  • CEOs Tout Reserves of Oil, Gas Revealed to Be Much Less to SEC
  • Hong Kong Protest Leaders Say They May Walk Away From Talks
  • China Outlines Plans to Ease Capital Controls, Boost Use of Yuan
  • Elevation Partners Said to Tell Investors No New Fund Is Coming
  • Google Asks Supreme Court to Decide Oracle Suit: Reuters
  • Citigroup Set to Return $16m to Customers After Pact: WSJ
  • Fidelity 1 of 13 Fin Groups Targeted by JPMorgan Hackers: FT

 

EARNINGS:

  • Lindsay (LNN) 7am, $0.56
  • PepsiCo (PEP) 7am, $1.29 - Preview
  • Helen of Troy (HELE) 4:01pm, $0.73
  • Barracuda Networks (CUDA) 4:15pm, $0.04
  • Family Dollar (FDO) Aft-Mkt, $0.77 - Preview

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • CEOs Tout Reserves of Oil, Gas Revealed to Be Much Less to SE
  • Brent Crude Declines as Germany Nears Recession; WTI Steady
  • Sugar Shortage Seen Looming by Drake Amid Drought in Brazil
  • China Battles GMO Unease From Field to Dinner Table: Commodities
  • Noble Said to Hire Gazprom’s Kapic to Trade European Power, Gas
  • EU Carbon Contango Crushed as Yield Is Better Than ECB: Vertis
  • Copper Advances Most in Three Weeks as Dollar Continues to Slide
  • Alcoa Earnings Rebound as Aluminum Use Rises in Aerospace
  • Gold Futures Rise to Highest in More Than 2 Weeks on Fed Minutes
  • Food Prices Slide a Sixth Month to Four-Year Low as Grains Fall
  • Solar’s $30 Billion Splurge Proves Too Much for Japan: Energy
  • Investors Shun World’s Richest Mineral Store in South Africa
  • Nickel Seen by ANZ Rising in Next Few Months on Slower Exports
  • Aurubis Raises Copper Premium for Europe by 4.8% for Next Year
  • Rio’s Bullish Iron Ore Outlook Bolsters Glencore Case for Bid

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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