TODAY’S S&P 500 SET-UP – November 14, 2014
As we look at today's setup for the S&P 500, the range is 38 points or 1.39% downside to 2011 and 0.47% upside to 2049.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 1.82 from 1.83
- VIX closed at 13.79 1 day percent change of 5.91%
MACRO DATA POINTS (Bloomberg Estimates):
- 8:30am: Retail Sales, Oct., est. 0.2% (prior -0.3%)
- 8:30am: Import Price Index, Oct., est. -1.5% (prior -0.5%)
- 9:10am: Fed’s Bullard speaks in St. Louis
- 9:55am: UMich Consumer Sentiment, Nov. prelim, est. 87.5 (pr 86.9)
- 10am: Business Inventories, Sept., est. 0.2% (prior 0.2%)
- 10am: Mortgage Delinquencies, 3Q (prior 6.04%)
- 10:30am: EIA natural-gas storage change
- 1pm: Baker Hughes rig count
- 4pm: Fed’s Fischer, Powell speak in Washington
GOVERNMENT:
- House, Senate in session
- 8:30am: EIA Administrator Adam Sieminski delivers remarks on “Implications of the U.S. Shale Revolution,’
- 9am: Mexico’s energy undersecretary for hydrocarbons, Maria de Lourdes Melgar Palacios speaks on the nation’s energy reform
- 10am: Siemens CEO Joe Kaeser speaks on energy issues at CSIS
- 10am: Energy Sec. Ernest Moniz announces “major investment”
- 10am: Vice President Biden to speak at Inter-American Development Bank
- 11am: Postmaster General Patrick Donahoe on U.S. Postal Service FY14 end-of-year financial results
WHAT TO WATCH:
- U.S. Said to Give Banks December Deadline for FX Admissions
- Alibaba Said to Seek $8 Billion in Bond for Loan Repayment
- BP Loses Bid for New Trial Over Its Gulf Spill Negligence
- Halliburton, Baker Hughes Consider Merger Amid Industry Downturn
- Virgin America Raises $307m Pricing U.S. IPO Within Range
- Applied Materials Forecasts Profit, Revenue Short of Estimates
- German and French Economies Rebound as Italian Slump Persists
- China to Waive Capital-Gains Tax for Foreigners Using Stk Link
- Boston Scientific Ordered to Pay $26.7 Million in Mesh Case
- Banks Said to Alter IPO Pitches as Finra Faults New Conflicts
- Wells Fargo Cancels Sale of Mortgage-Servicing Rights to Ocwen
- UPS Sees Wider Margins as E-Tailing Nears Business Shipping
- Sub-$2-a-Gallon Gasoline Futures Hand U.S. Motorists Gift
- Starbucks Dutch Tax Deal Clashes With Global Standards, EU Says
- Hostess Owners Said to Plan Sale of Twinkie Maker in Early 2015
- Blackstone May Ask U.S. to Speed Waldorf Sale Probe: NYP
- G-20, Fed Minutes, Obamacare, Japan GDP: Wk Ahead Nov. 15-22
EARNINGS:
- Amaya Gaming (AYA CN) 6:30am, C$0.22
- B2Gold (BTO CN) 6:30am, $0.01
- InterOil (IOC) 6am, ($0.51)
- Onex (OCX CN) 7am, $1.26
- Power Corp. of Canada (POW CN) 11:12am, C$0.68
- Springleaf (LEAF) 8am, $0.51
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Brent Rises Amid Speculation OPEC Will Respond to Oil-Price Drop
- Commodities Retreat to Five-Year Low as Oil Slumps With Metals
- Fracking Boom Spurs Demand for Sand, Clouds of Dust: Commodities
- Snowfall Alert Triggered Because Lakes Are Too Warm for Cold Air
- Noble Said to Reload Its First Spanish LNG for Delivery to Japan
- Soybeans Fall as China Slows and Oil’s Slide May Weigh on Demand
- U.S. Shale-Oil Surge to Continue Amid Price Slump, IEA Says
- Glencore to Shut Australian Coal Mines Temporarily Amid Glut
- Palm Trims Weekly Gain as Crude Oil Losses Reduce Biofuel Demand
- Steel Rebar Posts Second Weekly Drop as Mills Restart After APEC
- European Coal Set to Gain Most in Three Months as Glencore Cuts
- Corn Traders Divided on Demand Concerns to Harvest Forecast
- Buffett’s Power Market With California Faces Pricing Anomalies
- OPEC Diplomacy Picks Up From Iraq to Libya Amid Oil Plunge
- Gold Drops as Inflation Concern Fades; Platinum at Five-Year Low
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
