TODAY’S S&P 500 SET-UP – October 28, 2014
As we look at today's setup for the S&P 500, the range is 140 points or 6.15% downside to 1841 and 0.99% upside to 1981.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 1.89 from 1.88
- VIX closed at 16.04 1 day percent change of -0.43%
MACRO DATA POINTS (Bloomberg Estimates):
- FOMC starts 2-day meeting
- 7:45am: ICSC weekly sales
- 8:30am: Durable Goods, Sept, est 0.5% (pr -18.2%, rev -18.4%)
- 8:55am: Redbook weekly sales
- 9am: S&P/Case-Shiller 20 City m/m, Aug., est. 0.18% (pr -0.5%)
- 10am: Consumer Confidence Index, Oct., est. 87 (prior 86)
- 10am: Richmond Fed Mfg Index, Oct., est. 11 (prior 14)
- 11:30am: U.S. to sell 4W bills
- 1pm: U.S. to sell $29b 2Y note
- 4:30pm: API weekly oil inventories
GOVERNMENT:
- 8:30am-4pm: U.S. Chamber of Commerce hosts cybersecurity summit
- 9am: Interior’s Jewell delivers keynote remarks at National Congress of American Indians Annual Convention; Atlanta
- 9:30am: U.S. Chamber of Commerce releases report on risk-based pricing in consumer lending
- U.S. ELECTION WRAP: Runoff Scenarios and Senate Control; Polls
WHAT TO WATCH:
- Ackman’s $5.3 Billion Allergan Bet Examined Before Ouster Vote
- Apple’s Cook, Alibaba’s Ma Talk Marriage of Mobile Payments
- Alibaba’s Ma Targets Hollywood Studio Partners in Content Push
- T-Mobile Raises 2014 Subscriber Forecast After Beating Ests.
- Regal Entertainment Exploring Alternatives; 3Q Adj. EPS Beats
- GM to Build Volt Electric Drive, Invest $300m in Michigan
- Twitter CEO Says Adding Users Top Priority as Growth Slows
- Sanofi SlumPS on Forecast for Flat Diabetes Sales Next Year
- Madison Square Garden Mulls Plan to Split Into 2 Companies
- Money Mkts Split With Economists on Fed Interest-Rate Outlook
- Largest U.S. Banks See Worst Outflow of Money in ETF Since 2009
- Detroit to Learn Fate of $7 Billion Debt-Cutting Plan Nov. 7
- CDC Toughens Monitoring Guidelines for People With Ebola Risk
AM EARNS:
- Aetna (AET) 6am, $1.58
- Agco (AGCO) 8am, $0.63
- Alere (ALR) 7:30am, $0.52
- Ametek (AME) 7am, $0.61
- Arch Coal (ACI) 7:45am, ($0.41) - Preview
- AutoNation (AN) 7:30am, $0.86
- Centene (CNC) 6am, $0.99
- CIT (CIT) 6:30am, $0.89
- Coach (COH) 7am, $0.45 - Preview
- Consol Energy (CNX) 6:45am, $0.18 - Preview
- Corning (GLW) 7:15am, $0.38
- Cummins (CMI) 7:30am, $2.28 - Preview
- Ecolab (ECL) 8:05am, $1.20
- EI du Pont de Nemours (DD) 6am, $0.53 - Preview
- FirstMerit (FMER) 7:30am, $0.37
- Freeport-McMoRan (FCX) 8am, $0.61 - Preview
- Harris (HRS) 6:30am, $1.09
- HCA (HCA) 8:30am, $1.17
- Laboratory of America (LH) 6:41am, $1.75
- Marsh & McLennan (MMC) 7am, $0.53
- Martin Marietta (MLM) 8:20am, $1.70
- MeadWestvaco (MWV) 7:25am, $0.54
- MSC Industrial Direct (MSM) 7:30am, $1.01
- Noble Energy (NBL) 7:27am, $0.36 - Preview
- Paccar (PCAR) 8am, $0.96 - Preview
- Parker-Hannifin (PH) 7:30am, $1.67 - Preview
- Pfizer (PFE) 7am, $0.55 - Preview
- PG&E (PCG) 9:02am, $1.14
- Schnitzer Steel (SCHN) 8am, $0.31
- Sensata Technologies (ST) 6am, $0.62
- Sherwin-Williams (SHW) 7am, $3.22
- Sirius XM (SIRI) 7:01am, $0.02 - Preview
- Spirit Airlines (SAVE) 6am, $0.97
- Starwood Hotels (HOT) 6am, $0.65
- Synergy Resources (SYRG) 6am, $0.13
- TD Ameritrade (AMTD) 7:30am, $0.36
- Timken (TKR) 7:25am, $0.66
- TRW Automotive (TRW) 7am, $1.69
- United Therapeutics (UTHR) 6am, $1.79
- Vishay Intertechnology (VSH) 7:30am, $0.28
- Wabtec (WAB) 7:56am, $0.89
- Waddell & Reed Finl (WDR) 6:59am, $0.92
- Whirlpool (WHR) 6am, $3.13
- Xylem (XYL) 7am, $0.52 - Preview
PM EARNS:
- Aflac (AFL) 4:06pm, $1.43
- AGL Resources (GAS) 5:30pm, $0.30
- American Financial (AFG) 5pm, $1.14
- Ameriprise Financial (AMP) 4:07pm, $1.96
- Anadarko Petroleum (APC) 4:05pm, $1.27
- Arthur J Gallagher (AJG) 4:13pm, $0.68
- Aspen Technology (AZPN) 4:10pm, $0.27
- CH Robinson Worldwide (CHRW) 4:15pm, $0.81
- Chemtura (CHMT) 4:37pm, $0.30
- Cincinnati Financial (CINF) 4:02pm, $0.71
- CNO Financial (CNO) 4:05pm, $0.32
- Dun & Bradstreet (DNB) 4:15pm, $1.72
- Dyax (DYAX) 4:01pm, ($0.06)
- Eagle Materials (EXP) 4:15pm, $1.03
- Edison Intl (EIX) 4pm, $1.35
- Electronic Arts (EA) 4:01pm, $0.53 - Preview
- Equity Residential (EQR) 4:53pm, $0.33 - Preview
- EXCO Resources (XCO) 4:08pm, $0.01
- Express Scripts (ESRX) 4:25pm, $1.29 - Preview
- Facebook (FB) 4:05pm, $0.40 - Preview
- Fiserv (FISV) 4:01pm, $0.84
- Gilead Sciences (GILD) 4:05pm, $1.93 - Preview
- Green Plains (GPRE) 4:48pm, $0.96
- Hatteras Financial (HTS) 4:02pm, $0.58
- InvenSense (INVN) 4:06pm, $0.16
- Kimco Realty (KIM) 4:01pm, $0.14
- Macerich (MAC) 4:01pm, $0.20
- Marriott Intl (MAR) 4:30pm, $0.62
- McKesson (MCK) 4pm, $2.73
- Mueller Water Products (MWA) 4:25pm, $0.12
- Newfield Exploration (NFX) 4:01pm, $0.50
- Owens-Illinois (OI) 4:04pm, $0.73
- Panera Bread (PNRA) 4:05pm, $1.42
- PriceSmart (PSMT) 4pm, $0.73
- SM Energy (SM) 5:15pm, $1.47
- SolarWinds (SWI) 4:07pm, $0.43
- Total System Services (TSS) 4pm, $0.52
- Trinity Industries (TRN) 4:05pm, $0.86
- TriQuint Semiconductor (TQNT) 4:02pm, $0.24
- UDR (UDR) 4:01pm, $0.06
- United States Steel (X) 4:10pm, $1.20
- Verisk Analytics (VRSK) 4:10pm, $0.64
- Vertex Pharmaceuticals (VRTX) 4:01pm, ($0.65)
- Western Digital (WDC) 4:15pm, $2.04
- Willis (WSH) 4:30pm, $0.17
- Wynn Resorts (WYNN) 4:05pm, $1.82
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Russian Mining Tycoons Seek to Trim Debt as Sanctions Sting
- Soybean Meal Climbs to Four-Month High on Demand to Fatten Hogs
- Crop Slump Sending Farmers to Wheat as Best Option: Commodities
- Gold Trades Above Two-Week Low on Fed Outlook to Physical Buying
- Nickel Advances in London Following Six Sessions of Declines
- Rice Drops 3.1% in Chicago Trading to Lowest Since October 2010
- Wheat Gains for Second Day on Australian, Russian Crop Concerns
- Steel Rebar Holds Losses as Iron Ore Futures Slump to Record Low
- Goldman Sees Nickel Rally Following a Drop in Pig Iron Output
- Palm Oil Jumps Most in Seven Weeks on Malaysia Biodiesel Demand
- Alpiq’s Former Head of Trading Erik Saether Joins Sweden’s Sweco
- Cocoa Falls to Three-Month Low in London; Arabica Coffee Slides
- Japan’s Sendai Vote Signals Quickening Pace on Reactor Restarts
- Rice Exports From India Seen Plunging 30% as Harvest Contracts
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
