THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 5, 2014


As we look at today's setup for the S&P 500, the range is 66 points or 2.24% downside to 1967 and 1.04% upside to 2033.               

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 1.82
  • VIX closed at 14.89 1 day percent change of 1.09%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, Oct. 31 (prior -6.6%)
  • 8:15am: ADP Employment Change, Oct., est. 220k (prior 213k)
  • 8:30am: U.S. announces plans for quarterly refunding auctions of 3Y/10Y notes, 30Y bonds
  • 9:45am: Markit US Services PMI, Oct. final, est 57.1 (pr 57.3)
  • 9:15am: Fed’s Kocherlakota speaks in Virginia, Minn.
  • 9:30am: Fed’s Lacker speaks in Washington
  • 10am: ISM Non-Mfg Composite, Oct., est. 58 (prior 58.6)
  • 10am: Fed’s Rosengren speaks in Lima, Peru
  • 10:30am: DOE Energy Inventories
  • 6:45pm Former Fed Chairman Bernanke speaks in Denver

GOVERNMENT:

    • President Obama attends meetings at White House
    • Senate, House out of session
    • Sec. of State John Kerry travels to Paris Nov. 4-6 to to meet with French Foreign Minister Laurent Fabius
    • 10am: Supreme Court hears arguments in case over reach of Sarbanes-Oxley provision that makes it a federal crime to destroy documents to impede an investigation
    • 10am: CFTC Chairman Timothy Massad delivers keynote remarks during 1st day of Futures Industry Assn’s conference in Chicago

WHAT TO WATCH:

  • Republicans Profit From Voter Dismay Over Obama Economy
  • White House Puts Distance Between Obama, Losing Democrats
  • Morgan Stanley Expects $1.3b Tax Benefit for This Quarter
  • Gross Exit Prompts $27.5b in Withdrawals From Pimco Fund
  • Apax Said to Prepare $8.8b Bid for Oi Portugal Assets
  • Fox Eyes Digital Options to Counter ‘Fraying’ Cable TV Bundle
  • Antero Midstream Raises $1b in U.S. Pipeline Unit IPO
  • GM Sells First Dollar Bonds Since S&P Rating Upgrade
  • Toyota Forecasts Record Profit on Yen Boon to Lexus Sales
  • LG Electronics, Google Sign Patent Cross-Licensing Agreement
  • Visa Said to Win Best Buy Processing Deal, Replaces MasterCard
  • Monte Paschi Said to Line Up Banks for $3.1b Share Sale
  • Blankfein Sees China’s Century After Growth Transition
  • Xiaomi Seeks $50b Valuation on Apple-Topping Sales Ratio

AM EARNS:

    • Actavis (ACT) 7am, $3.11 - Preview
    • Ansys (ANSS) 7:09am, $0.82
    • Ariad Pharmaceuticals (ARIA) 7:35am, ($0.30)
    • BroadSoft (BSFT) 7:30am, $0.26
    • Brookfield Infrastructure (BIP) 8am, $0.39
    • CenterPoint Energy (CNP) 8:15am, $0.30
    • Chesapeake Energy (CHK) 7:01am, $0.33 - Preview
    • Cognizant (CTSH) 6am, $0.63 - Preview
    • Covidien (COV) 6am, $1.02 - Preview
    • Denbury Resources (DNR) 7:30am, $0.26
    • Duke Energy (DUK) 7am, $1.52
    • Enbridge (ENB CN) 7am, C$0.38 - Preview
    • Endo Intl (ENDP) 6:30am, $0.99 - Preview
    • Hecla Mining (HL) 8am, $0.01
    • HollyFrontier (HFC) 7am, $0.94
    • Intact Financial (IFC CN) 6:55am, C$1.08
    • Lamar Advertising (LAMR) 6am, $0.39
    • Level 3 Communications (LVLT) 8am, $0.32
    • Louisiana-Pacific (LPX) 8am, ($0.06)
    • Mondelez Intl (MDLZ) 8am, $0.39 - Preview
    • NRG Energy (NRG) 6:59am, $0.49
    • Nu Skin Enterprises (NUS) 7:30am, $0.92
    • OGE Energy (OGE) 7am, $0.95
    • Penn West Petroleum (PWT CN) 7:06am, C$0.08
    • Quanta Services (PWR) 6:07am, $0.58
    • Realogy (RLGY) 7:09am, $0.65
    • RioCan REIT (REI-U CN) 7am, C$0.43
    • Rockwood (ROC) 6am, $0.57
    • Rowan Cos (RDC) 8:15am, $0.53
    • RR Donnelley (RRD) 6:30am, $0.37
    • Sinclair Broadcast (SBGI) 7:30am, $0.34
    • Spectra Energy (SE) 6:30am, $0.27
    • Stillwater Mining Co (SWC) 8am, $0.17
    • Stratasys (SSYS) 7am, $0.58 - Preview
    • Tim Hortons (THI CN) 7:30am, C$0.89
    • Time Warner (TWX) 7am, $0.94 - Preview
    • Towers Watson (TW) 6am, $1.21
    • Vonage (VG) 8am, $0.04
    • Voya Finl (VOYA) 6am, $0.74 - Preview

PM EARNS:

    • Alnylam Pharmaceuticals (ALNY) 4pm, ($0.63)
    • American Capital (ACAS) 4:18pm, $0.17
    • American Water Works (AWK) 4:15pm, $0.91
    • Annaly Capital (NLY) 4:05pm, $0.31
    • Antero Resources (AR) 4:05pm, $0.31
    • Ashland (ASH) 5pm, $1.36
    • Babcock & Wilcox (BWC) 4:20pm, $0.44
    • Brookdale Senior Living (BKD) 4:51pm, ($0.09)
    • CBS (CBS) 4:01pm, $0.73 - Preview
    • CenturyLink (CTL) 4:05pm, $0.62
    • Concho Resources (CXO) 4:30pm, $0.91
    • Continental Resources (CLR) Aft-Mkt, $0.81
    • Convergys (CVG) 4:15pm, $0.38
    • DryShips (DRYS) 4:02pm, $0.04
    • Dynegy (DYN) 4:30pm, $0.01
    • Energy XXI Bermuda (EXXI) 5pm, $0.07
    • EnerSys (ENS) 4:01pm, $1.01
    • Envision Healthcare (EVHC) 4:10pm, $0.33
    • Franco-Nevada (FNV CN) 4pm, $0.22
    • Genpact (G) 4:01pm, $0.26
    • Genworth Financial (GNW) 5:05pm, $0.21 - Preview
    • Gulfport Energy (GPOR) 4:05pm, $0.04
    • Hologic (HOLX) 4:01pm, $0.38
    • Integrys Energy (TEG) 5:17pm, $0.40
    • J2 Global (JCOM) 4:15pm, $0.82
    • Kindred Healthcare (KND) 6:15pm, $0.10
    • Kinross Gold (K CN) 5pm, $0.03
    • Liberty Global (LBTYA) 5:10pm, $0.01
    • Matador Resources Co (MTDR) 4:01pm, $0.31
    • MBIA (MBI) 4:05pm, $0.04
    • McDermott Intl (MDR) 4:12pm, ($0.11)
    • Molycorp (MCP) 4:02pm, ($0.27)
    • News Corp (NWSA) 4:05pm, $0.05
    • Novavax (NVAX) 4:19pm, ($0.07)
    • Plains All American (PAA) 4:15pm, $0.52
    • Prudential Financial (PRU) 4:07pm, $2.41 - Preview
    • PTC (PTC) 5:57pm, $0.64
    • QEP Resources (QEP) 4:15pm, $0.25
    • Qualcomm (QCOM) 4:01pm, $1.32 - Preview
    • SandRidge Energy (SD) 4:15pm, $0.05
    • SolarCity (SCTY) 4:05pm, ($1.11)
    • Solazyme (SZYM) 4:07pm, ($0.42)
    • Sun Life Financial (SLF CN) 5:10pm, C$0.74 - Preview
    • Symantec (SYMC) 4:01pm, $0.43
    • Tableau Software (DATA) 4:01pm, ($0.06)
    • Tesla Motors (TSLA) 4:14pm, $0.00 - Preview
    • Vivus (VVUS) 4:05pm, ($0.24)
    • WebMD Health (WBMD) 4pm, $0.24
    • Westar Energy (WR) 5:08pm, $1.07
    • Whole Foods Market (WFM) 4:03pm, $0.32
    • Zillow (Z) 4:30pm, $0.09

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

 

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