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TODAY’S S&P 500 SET-UP – October 30, 2014


As we look at today's setup for the S&P 500, the range is 136 points or 5.61% downside to 1871 and 1.25% upside to 2007.                                              

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: 1.82 from 1.84
  • VIX closed at 15.15 1 day percent change of 5.28%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Init Jobless Claims, Oct. 25, est. 285k (prior 283k)
  • Continuing claims, Oct. 18, est. 2.352m (prior 2.351m)
  • 8:30am: GDP, 3Q, est. 3% (prior 4.6%)
  • 9am: Fed’s Yellen speaks in Washington
  • 9:45am: Bloomberg Consumer Comfort, Oct. 26 (prior 37.7)
  • 10am: Freddie Mac mortgage rates
  • 10:30am: EIA natural-gas storage change
  • 1pm: U.S. to sell $29b 7Y notes
  • 3pm: Puerto Rico Govt. Devel. Bank webcast for bondholders

GOVERNMENT:

    • Senate, House out of session
    • Ideas Forum speakers include Sec. of State John Kerry, Anthony Fauci, director of Natl Inst. for Allergy and Infectious Disease; Senate Ag. Cmte Chairwoman Debbie Stabenow;  U.S. Trade Rep. Mike Froman
    • U.S. ELECTION WRAP: GOP Path to Victory Not So Easy; Ad Money

WHAT TO WATCH:

  • ValueAct’s Ubben Sees Agrium’s Retail Unit as ‘Stable Jewel’
  • Container Store Targeted by Apex Capital’s Colen Urging Growth
  • American Realty Says Accounting Error Was Intentionally Hidden
  • Standard Chartered, Mitsubishi UFJ Said to Face Fresh Inquiries
  • Citigroup Said to Seek Initial Offers for OneMain by Nov. 20
  • Barclays Profit Jumps, Sets Aside $799 Million FX Provision
  • Visa Profit Surpasses Estimates as Consumer Card Spending Rises
  • Suncor 3Q Operating EPS Tops Est., Total Production Below Est.
  • Fifth Street Raises $102 Million in Reduced Initial Offering
  • German Unemployment Unexpectedly Falls as Economy Weathers Woes
  • Samsung Has Smallest Profit Since 2011 as Smartphones Stall
  • Obama Says Attempts to Seal U.S. Futile in Battle Against Ebola

AM EARNS:

    • Air Products (APD) 6am, $1.61
    • Alpha Natural Resources (ANR) 7am, ($0.71) - Preview
    • AltaGas (ALA CN) 7:45am, $0.19
    • Altria (MO) 6:58am, $0.68 - Preview
    • American Tower (AMT) 7am, $0.56 - Preview
    • AmerisourceBergen (ABC) 7am, $1.05 - Preview
    • Avon Products (AVP) 7:01am, $0.16 - Preview
    • Ball (BLL) 6am, $1.06
    • Baytex Energy (BTE CN) 7:30am, C$0.74
    • BGC Partners (BGCP) 8am, $0.16
    • Bombardier (BBD/B CN) 6am, $0.10 - Preview
    • BorgWarner (BWA) 8am, $0.79
    • Bunge (BG) 6:30am, $1.90
    • Cardinal Health (CAH) 7am, $0.96
    • Catamaran (CCT CN) 6am, C$0.56 - Preview
    • Cigna (CI) 6am, $1.83
    • CME (CME) 7am, $0.82
    • CNH Industrial (CNHI) 9:30am, $0.13
    • ConocoPhillips (COP) 7am, $1.21 - Preview
    • CVR Energy (CVI) 8:30am, $0.62 - Preview
    • Diebold (DBD) 8:16am, $0.50
    • Elizabeth Arden (RDEN) 7:15am, ($0.53)
    • Enterprise Products (EPD) 6am, $0.37
    • Fidelity National Information (FIS) 7am, $0.79
    • Fortress Investment (FIG) 7:09am, $0.16
    • GNC (GNC) 8am, $0.74
    • Goldcorp (G CN) 8am, $0.18 - Preview
    • GrafTech Intl (GTI) 8:56am, ($0.04)
    • Greenbrier (GBX) 6am, $1.03
    • Harman Intl (HAR) 8am, $1.11
    • Host Hotels & Resorts (HST) 6am, $0.09
    • Incyte (INCY) 7am, $0.07 - Preview
    • Invesco (IVZ) 7:30am, $0.62
    • Iron Mountain (IRM) 6am, $0.40
    • ITC (ITC) 8:30am, $0.47
    • Johnson Controls (JCI) 7am, $1.01
    • Kellogg (K) 8am, $0.92 - Preview
    • L-3 Communications (LLL) 7am, $1.84
    • Lincoln Electric (LECO) 7am, $0.90
    • LKQ (LKQ) 7am, $0.32
    • Maple Leaf Foods (MFI CN) 7:30am, (C$0.03)
    • Marathon Petroleum (MPC) 7am, $2.29 - Preview
    • MasterCard (MA) 8am, $0.78 - Preview
    • MGM Resorts Intl (MGM) 8am, $0.06
    • Mosaic (MOS) 7am, $0.58 - Preview
    • MSCI (MSCI) 7:30am, $0.49
    • National Oilwell Varco (NOV) 7am, $1.54
    • New Gold (NGD CN) 7:30am, $0.02 - Preview
    • New York Times (NYT) 8:30am, $0.00
    • NiSource (NI) 6:30am, $0.16
    • Ocwen Financial (OCN) 7:30am, $0.60 - Preview
    • Old Dominion Freight Line (ODFL) 7am, $0.87
    • PBF Energy (PBF) 6:30am, $1.04
    • Pitney Bowes (PBI) 7am, $0.46
    • Public Service Enterprise (PEG) 7:30am, $0.74
    • Radian (RDN) 7am, $0.32
    • Scana (SCG) 7:30am, $0.96
    • Starz (STRZA) 7:30am, $0.51
    • Taser Intl (TASR) 7:30am, $0.11
    • Teva Pharmaceutical (TEVA) 7am, $1.24 - Preview
    • Thomson Reuters (TRI CN) 7am, $0.45
    • Time Warner Cable (TWC) 6am, $1.90
    • TransAlta (TA CN) 7:30am, C$0.07
    • Ultra Petroleum (UPL) 8am, $0.51
    • Vantiv (VNTV) 7am, $0.49
    • Xcel Energy (XEL) 6am, $0.76

PM EARNS:

    • Aegerion Pharmaceuticals (AEGR) 4:15pm, ($0.15)
    • AlonA Energy (ALJ) 5:03pm, $0.59
    • Bally Technologies (BYI) 4:01pm, $1.17
    • Bell Aliant (BA CN) Post-Mkt, C$0.42
    • Boyd Gaming (BYD) 4:05pm, $0.01
    • Canadian Oil Sands (COS CN) 4:51pm, C$0.42
    • Constellation Software (CSU CN) 5pm, $3.16
    • Crown Castle (CCI) 4:02pm, $0.27
    • Eastman Chemical (EMN) 5:15pm, $1.80
    • Eldorado Gold (ELD CN) 5:41pm, $0.06 - Preview
    • Energen (EGN) 4:30pm, $0.46
    • Expedia (EXPE) 4:09pm, $1.74 - Preview
    • Fairfax Financial (FFH CN) 5pm, $14.04
    • First Quantum Minerals (FM CN) 5pm, $0.25 - Preview
    • FleetCor Technologies (FLT) 4:01pm, $1.33
    • Fluor (FLR) 4:05pm, $1.10
    • GoPro (GPRO) 4:05pm, $0.08
    • Groupon (GRPN) 4:05pm, $0.01
    • Investors Bancorp (ISBC) 5pm, $0.10
    • LinkedIn (LNKD) 4:05pm, $0.47
    • Live Nation (LYV) 4:09pm, $0.36
    • MasTec (MTZ) 4:30pm, $0.55
    • MB Financial (MBFI) Post-Mkt, $0.44
    • MercadoLibre (MELI) 4:04pm, $0.66
    • Microchip Technology (MCHP) 4:15pm, $0.67
    • Mohawk Industries (MHK) 4:01pm, $2.42
    • Mylan (MYL) 4pm, $1.14
    • Newmont Mining (NEM) Post-Mkt, $0.16 - Preview
    • ON Semiconductor (ONNN) 4:05pm, $0.22
    • PerkinElmer (PKI) 4:05pm, $0.57
    • Republic Services (RSG) 4:05pm, $0.53
    • Scientific Games (SGMS) 4:08pm, ($0.39)
    • Seattle Genetics (SGEN) 4:05pm, ($0.24)
    • Sirius XM Canada (XSR CN) 4:05pm, C$0.05
    • Spansion (CODE) 4:04pm, $0.27
    • Standard Pacific (SPF) 4:02pm, $0.15
    • Starbucks (SBUX) 4:05pm, $0.74 - Preview
    • Tempur Sealy Intl (TPX) 4:05pm, $0.89
    • Tesoro (TSO) 5pm, $2.16 - Preview
    • Theravance (THRX) 4:08pm, ($0.13)
    • Trimble Navigation (TRMB) 4:05pm, $0.38
    • Western Union (WU) 4:01pm, $0.38

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • China Said to Probe September Surge in Precious Metals Exports
  • Metals Investors Seeing Slowdown Head for ETP Exit: Commodities
  • WTI Falls From One-Week High on Fed Stimulus Halt, U.S. Supply
  • Gold Equals 15 Barrels of Oil in Sign Inflation Wagers Too High
  • Oil Stocks Lure Most Bearish Bets Since ’07 After Slump: Options
  • Diamond Dealers Using Web Bring Light to $18 Billion Gem Trade
  • U.S. Light-Crude Production Spurs Export Debate, Official Says
  • Raw Sugar Drops as Oversupply Caps Prices; Arabica Coffee Gains
  • Gold Slides to Three-Week Low as Dollar Strengthens After Fed
  • Trafigura Seeks to Handle More Copper Ore Amid Arsenic Hurdles
  • Bauxite Supplies From Africa Seen Showing Resilience Amid Ebola
  • Copper Drops From Five-Week High as Fed Decision Boosts Dollar
  • China State Reserves May Buy Copper in Bonded Zones: Citigroup
  • How Oil’s 29% Drop Took Investors by Surprise on OPEC Price War

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