THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 12, 2014


As we look at today's setup for the S&P 500, the range is 84 points or 3.66% downside to 1965 and 0.46% upside to 2049.                             

                                                                                                  

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: 1.81 from 1.83
  • VIX closed at 12.92 1 day percent change of 1.97%

 

MACRO DATA POINTS (Bloomberg Estimates):

  • 7am: MBA Mortgage Applications, Nov. 7 (prior -2.6%)
  • 10am: Wholesale Inventories, Sept., est. 0.2% (prior 0.7%)
  • 11:30am: U.S. to sell $25b 52W bills, TBA 4W bills
  • 12pm: Fed’s Kocherlakota speaks in Eau Claire, Wis.
  • 1pm: U.S. to sell $24b 10Y notes
  • 4:30pm: API weekly oil inventories
  • 4:30pm: Treasury Sec. Lew at World Affairs Council in Seattle

 

GOVERNMENT:

    • 10am: Supreme Court hears arguments in Alabama Legislative Black Caucus vs. Alabama case
    • 10am: Attorney General Eric Holder delivers remarks at 20th anniversary of Community Oriented Policing Services Office
    • 2pm: Senate Appropriations Cmte hearing on White House anti-Ebola funding request

 

WHAT TO WATCH:

  • Five Banks to Pay $3.3b in First FX-Rigging Settlements
  • Barclays Says Not Ready to Settle Global FX-Rigging Probe
  • OCC seen announcing more fines later today
  • Yahoo to Acquire Video-Ad Service BrightRoll for $640m
  • Wal-Mart to Stretch Black Friday Over 5 Days to Lure Shoppers
  • Ackman’s Pershing Square Takes Stake in Drugmaker Zoetis
  • Fossil Rises After 3Q Results Top Analysts’ Estimates
  • U.S., China Agree on New Carbon Cuts to Fight Climate Change
  • China to Overtake U.S. as World’s Biggest Oil Consumer, IEA Says
  • Republican Sullivan Finally Wins Alaska Sen. Race Vs Begich
  • Comcast Deal Disclosure Spurs Bid to Keep Contract Terms Secret
  • Apax Joins Bain to Bid $8.8 Billion for Oi Portugal Assets
  • U.K. Unemployment Stays at 6% as Wage Growth Accelerates
  • Chinese Buyer of Waldorf Astoria Said to Plan $2b IPO
  • Two Yahoo Shareholders Said to Ask AOL to Mull Merger: Reuters
  • FCC May Move Away From Obama on Future of the Internet: WPT

 

AM EARNS:

    • ADT (ADT) 7am, $0.48
    • CAE (CAE CN) 8:30am, C$0.16
    • Canadian Solar (CSIQ) 7:20am, $1.16
    • Encana (ECA CN) 6am, $0.43 - Preview
    • Energizer (ENR) 7am, $1.61
    • EZchip Semiconductor (EZCH) 8am, $0.25
    • First Majestic Silver (FR CN) 7am, ($0.02)
    • Loblaw Cos (L CN) 6:30am, C$0.86
    • Macy’s (M) 8am, $0.50 - Preview
    • Meritor (MTOR) 7:30am, $0.15
    • Pinnacle Foods (PF) 8:30am, $0.41
    • Plug Power (PLUG) 7am, ($0.03)
    • Rice Energy (RICE) Bef-mkt, ($0.04) - Preview
    • Rockwell Automation (ROK) 7am, $1.83
    • SeaWorld Entertainment (SEAS) 7:30am, $1.13

PM EARNS

    • Aimia (AIM CN) 6:15pm, C$0.20
    • AmeriGas Partners (APU) 7pm, ($0.54)
    • Cisco Systems (CSCO) 4:05pm, $0.53 - Preview
    • Iamgold (IMG CN) 5pm, $0.04
    • J.C. Penney (JCP) 4pm, ($0.80) - Preview
    • NetApp (NTAP) 4:01pm, $0.69
    • NetEase (NTES) 7pm, $1.49
    • Silver Wheaton (SLW CN) 5pm, $0.20
    • Tetra Tech (TTEK) 4:41pm, $0.35
    • WGL (WGL) 5pm, ($0.26)
    • WuXi PharmaTech Cayman (WX) 4:30pm, $0.50

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • UBS Precious Metals Misconduct Found by Finma in FX Probe
  • Gold Stable as Investors Weigh Falling Oil, Dollar’s Strength
  • Brent Oil Near 4-Year Low on Signs OPEC Will Resist Output Cuts
  • Palm Oil Output in Indonesia to Rise Over Next 5-10 Yrs: Wilmar
  • Oil Slide Echoes ’08 Peg Pressure for Nigeria, Saudi: Currencies
  • Abu Dhabi’s Taqa Cuts Spending for 2014 After Oil Prices Decline
  • CRU Group Says Bearish Copper Trend Will Extend Through 2016
  • Nickel’s Waning Price Boom Leaves BHP With Unwanted Mines
  • Standard Chartered Global Agriculture Sales Head Pepper Leaves
  • Gold to Find Solace From Negative Lending Rate: Chart of the Day
  • Shanghai Steel Rebar Swings Amid Post-APEC Production Restarts
  • S. Africa Nat. Resources Bill Examination May End Soon: Minister
  • Corn Price Seen Rebounding Next Year by Hightower on Less Acres
  • Singapore Ship-Fuel Sellers Tighten Credit After OW’s Bankruptcy
  • China to Overtake U.S. as World’s Biggest Oil Consumer, IEA Says

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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