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

TODAY’S S&P 500 SET-UP – October 10, 2014


As we look at today's setup for the S&P 500, the range is 35 points or 0.37% downside to 1921 and 1.44% upside to 1956.                         

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 losed at 18.76 1 day percent change of 24.16%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • Monthly Budget Statement, Sept., est. $82b (prior $75.1b)
  • 8:30am: Import Price Index, Sept., est. -0.7% (prior -0.9%)
  • 9am: Fed’s Plosser speaks in New York
  • 1pm: Fed’s George speaks in McCook, Neb.
  • 1pm: Baker Hughes rig count
  • 2:08pm: Fed’s Fisher speaks in Dallas
  • 3pm: Fed’s Lacker speaks in Chicago

GOVERNMENT:

    • President Obama speaks at San Gabriel Mountains national monument designation
    • Senate, House out of session
    • 12:30pm: World Bank President Jim Yong Kim speaks on “Rising to the Renewable Energy Challenge” panel at International Monetary Fund, World Bank annual meeting
    • 1:30pm: G-20 news conference

WHAT TO WATCH:

  • Symantec to Divide Into Storage and Security Businesses
  • GE’s Immelt Sees Divestitures in Plotting 2015 Deal Strategy
  • Juniper Slides After Preliminary Results Miss Its Own Forecast
  • Dave & Buster’s Raises $94 Million in Games and Food Chain IPO
  • Family Dollar Profit Declines as Price Cutting Reduces Margins
  • GT Advanced Wants Permission to Wind Down Sapphire Operations
  • Pimco Cut Government-Related Debt Last Month as Gross Quit
  • Minimum-Wage Backers to Get Unlikely Ally With Next NRF Chairman
  • U.K. House-Price Growth Slows to 10-Month Low on Rate Prospects
  • Spanish Hospital Monitors 13 People for Risk of Ebola Contagion
  • Tesla’s Musk Unveils All-Wheel-Drive Version of Model S
  • Fidelity Investments Said Hit in JPMorgan-Hack Attack: WSJ
  • U.S. Retail Sales, JPMorgan, IMF, Li Trip: Wk Ahead Oct. 11-18

EARNINGS:

    • Fastenal (FAST) 6:50am, $0.45
    • Progressive (PGR) 8:14am, $0.44

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • WTI Oil Extends Bear Market Tumble on Global Glut; Brent Slumps
  • Commodities Drop Near Five-Year Low on Growth Concern to Gluts
  • Copper Set for Longest Losing Run Since 2008 as Economies Slow
  • Barge Fees Limit Exports as Crops Compete for Space: Commodities
  • Fracking Setback in Poland Dims Hope for Less Russia Gas: Energy
  • Gold Cuts Weekly Gain as Improving U.S. Data Strengthens Dollar
  • Corn Falls to Trim Weekly Gain on Crop Outlook, Equities Slide
  • Freeport Offers Rio Recipe to Repel Glencore Advances: Real M&A
  • Coffee Reaches Highest Since March in London; Sugar Declines
  • Indonesia to Miss Oil Output Target of 1 Million Barrels Daily
  • Palm Oil Extends Retreat as Export Drop Signals Slowing Demand
  • Glencore Said to Have Explored Possible Australia Listing
  • Gold Traders Most Bullish in Five Weeks on Fed Growth Concern
  • LME Aluminum Wait Times in Detroit Climbed to 702 Days in Sept.

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