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