THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 7, 2014


As we look at today's setup for the S&P 500, the range is 79 points or 3.16% downside to 1967 and 0.73% upside to 2046.                                                    

                                                                           

SECTOR PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - 1

 

THE HEDGEYE DAILY OUTLOOK - 2

 

EQUITY SENTIMENT:

 

THE HEDGEYE DAILY OUTLOOK - 10A

 

CREDIT/ECONOMIC MARKET LOOK:

  • YIELD CURVE: 1.84 from 1.84
  • VIX closed at 13.67 1 day percent change of -3.53%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 8:30am: Chg in Nonfarm Payrolls, Oct., est. 235K (pr 248k)
  • Unemployment Rate, Oct., est. 5.9% (prior 5.9%)
  • 9:15am: Chicago Fed President Charles Evans delivers remarks at community bankers forum held by Fed, FDIC, OCC in Chicago
  • Also speaking: Comptroller of the Currency Thomas Curry, Fed’s Daniel Tarullo
  • 10:15am: Fed’s Janet Yellen speaks in Paris
  • 1pm: Baker Hughes rig count
  • 3pm: Consumer Credit, Sept., est. $16b (prior $13.525b)

 

GOVERNMENT:

    • Obama holds Cabinet meeting, meets with congressional leaders at White House
    • Senate, House out of session
    • Sec. of State John Kerry travels to Beijing
    • 8:30am: Federal Trade Commission Chair Edith Ramirez remarks at 100th anniversary celebration
    • 9am: Andrew Ceresney, head of SEC’s enforcement division particpates in panel discussion in NYC
    • 1pm: VA Sec. Robert McDonald speaks at Natl Press Club
    • 1pm: U.S. Ambassador to the UN Samantha Power at American Enterprise Institute

 

WHAT TO WATCH:

  • Fed Said to Seek More Time to Mull Actions Against FX Traders
  • Libor Banks Ask U.S. Judge to Dismiss 17 Rate-Swap Suits
  • Home Depot Says 53m E-Mail Addresses Were Taken in Breach
  • Allianz to Lift Payouts, Affirms Goals Amid Pimco Outflows
  • Singapore Returns Up to $9b to Banks After Rate Probe
  • Kutxabank in Talks on Bad Bank With GS, Lone Star: Expansion
  • Takata Said to Have Tested Air Bags in 2004: NYT
  • Citigroup Said to Await Final Bids for Japan Retail Bank
  • Mitel CEO Won’t Rule Out Higher, Hostile Bid for ShoreTel
  • Twitter Says Recent Debt Deal Makes Co. Harder to Acquire
  • Co. to Open Greater China Office in HK Amid Developer Push
  • PetSmart Said to Invite PE Firms for Final Bid Round: WSJ
  • Retailers Ponder Whether Opening Worth Ruined Thanksgiving
  • China Auto Sales Hasten First Time Since June on Discounts
  • Lenovo Says ‘Hypergrowth’ in China Smartphone Market Ending
  • Retail Sales, Obama in Asia, G-20, Paschi: Week Ahead Nov. 8-15

 

EARNINGS:

    • Athabasca Oil (ATH CN) 6am, (C$0.05)
    • Bankers Petroleum (BNK CN) 7am, $0.08
    • Berkshire Hathaway (BRK/A US) $2,593.00, Aft-Mkt (tentative)
    • Brookfield Asset Mgmt (BAM/A CN) 8am, $0.61
    • Cogent Communications (CCOI) 7am, $0.03
    • Cooper Tire & Rubber (CTB) 7:30am, $0.73
    • Dresser-Rand (DRC) After-mkt, $0.64
    • Enerplus (ERF CN) 8:47am, C$0.21
    • EW Scripps (SSP) 7:30am, $0.05
    • Fortis (FTS CN) 6am, C$0.26
    • Humana (HUM) 6am, $2.01
    • Isis Pharmaceuticals (ISIS) 8:30am, ($0.20)
    • Magnum Hunter Resources (MHR) 7am, ($0.16)
    • ViaSat (VSAT) 9am, $0.15

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Brent Heads for Longest Weekly Drop Since 2001 on OPEC Outlook
  • ICE to Run Replacement for Century-Old London Gold Fixing
  • Jiangxi Copper Seeks Record Treatment Fees on Higher Ore Supply
  • Gold Trading Near Four-Year Low Heads for Weekly Drop on Dollar
  • Iron Ore Completes Biggest Weekly Loss Since May on Global Glut
  • Tin Set for Biggest Weekly Gain Since February Before Jobs Data
  • China Gold Buyers Signal Slumping Price Nears Nadir: Commodities
  • Gold Speculation Points to Lasting Bear Market: Chart of the Day
  • Banks Face Lawmaker Scrutiny Over Physical Commodities Units
  • Port Worker Slowdown Seen Spreading to Nation’s Biggest Hub
  • California Oil-by-Rail Volumes Drop as Canada Faces Competition
  • China Oil Producers Face Cuts After Period of ‘Runaway’ Spending
  • Four Takes on OPEC’s Vienna Decision as Selloff Deepens: Energy
  • Corn Traders Bearish 13th Week on Ample Supply From U.S. Harvest
  • Gold Seen Extending Decline 12% by Second-Best Forecaster Gan

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 - 10

 

 

The Hedgeye Macro Team

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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