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
EQUITY SENTIMENT:
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
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
