THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 18, 2014


As we look at today's setup for the S&P 500, the range is 49 points or 2.12% downside to 1998 and 0.28% upside to 2047.                                    

                                                                                           

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: 1.83 from 1.83
  • VIX closed at 13.99 1 day percent change of 5.11%

 

MACRO DATA POINTS (Bloomberg Estimates):

 

  • 7:45am: ICSC weekly sales
  • 8:30am: PPI Final Demand m/m, Oct., est. -0.1% (prior -0.1%)
  • 8:55am: Redbook weekly sales
  • 10am: NAHB Housing Market Index, Nov., est. 55 (prior 54)
  • 11:30am: U.S. to sell 4W bills
  • 1:30pm: Fed’s Kocherlakota speaks in St. Paul, Minn.
  • 4pm: Net Long-term TIC Flows, Sept. (prior $52.1b)
  • 4:30pm: API weekly oil inventories

 

GOVERNMENT:

    • Senate to vote Keystone XL pipeline after House passed bill
    • Diplomats from the U.S., U.K., France, Germany, Russia and China convene in Vienna for nuclear talks as they attempt to finalize interim deal with Iran before Nov. 24 deadline
    • 10am: Senate Foreign Relations Cmte hearing on countering Islamic State in Iraq and Syria
    • 10am: FDIC board holds open meeting to consider final rule on revisions to Deposit Insurance Assessment System
    • 10am: House Foreign Affairs subcmte hears from leaders of Doctors Without Borders and Africare on Ebola
    • 10am: House Cmte on Transportation and Infrastructure hearing on FAA reauthorization
    • 1pm: House Energy and Commerce Cmte hears from CDC Director Tom Frieden on U.S. response to Ebola
    • 6:30pm: Sen. Energy and Natural Resources Chairwoman Mary Landrieu holds news conf. on Keystone after Senate votes   

               

WHAT TO WATCH:

  • Abe Delays Tax Hike, Calls Vote to Renew Mandate: NHK
  • Wall Street to Reap $316m From Actavis, Halliburton Deals
  • Sprint CEO Claure Shuffles Top Management in Turnaround Bid
  • AT&T Cutting Shared Data Plan by 23% in Pre-Holiday Promotion
  • Intel to Merge Loss-Making Mobile Business With PC Division
  • Samsung Moves Smartphone Engineers to Internet of Things
  • Nokia Rolls Out Android Tablet in Return to Mobile Devices
  • Blackstone Said to Sell NYC Tower to Ivanhoe for $2.25b
  • SunEdison, TerraForm to Acquire First Wind for $2.4b
  • Halliburton Said to Plan $4b in Disposals for Baker Hughes
  • Halliburton, Baker Hughes May Be Cut by S&P
  • Carnival Enlists Public in Push to Tackle Cruise Image
  • China Rejection of HK Stock Icons Evident in Lopsided Link

 

EARNINGS:

    • Dick’s Sporting Goods (DKS) 7:30am, $0.41 - Preview
    • George Weston (WN CN) 7:45am, C$1.53
    • Home Depot (HD) 6am, $1.13 - Preview
    • Jack in the Box (JACK) 4:02pm, $0.53
    • La-Z-Boy (LZB) 4:10pm, $0.34
    • Ma-Com Technology (MTSI) 4:05pm, $0.33
    • Medtronic (MDT) 7:15am, $0.96 - Preview
    • PetSmart (PETM) 5:55pm, $0.94
    • Sears Canada (SCC CN) 7am, NA
    • TJX Cos (TJX) 8:28am, $0.85 - Preview
    • Vipshop (VIPS) 4:01pm, $0.07                 

                               

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

 

  • Shale Output Unchecked by Rig Cutback as Top Fields Become Focus
  • Gold Climbs to Two-Week High on Speculation ECB May Buy Bullion
  • Iron Ore Bear Market Deepens as China Home Data Add to Concern
  • China’s Ore Supplies Cushioning Nickel Output Amid Disruptions
  • Oil Fall Not Mirrored at Pump to Crimp Demand Growth: Julian Lee
  • Aluminum Falls to Two-Week Low on Concern Slowdown to Sap Demand
  • Goldman Says OPEC in Dilemma as Output Cut Seen Helping U.S.
  • Corn Falls for a 3rd Day as Record U.S. Harvest Nears Completion
  • MORE: Spot Gold Climbs to Highest Price This Month, Gains 0.8%
  • Sugar Rises Amid Prospects for Future Deficits; Cocoa Advances
  • Rubber Falls by Most in 2 Weeks in Tokyo Amid Japanese Recession
  • Singapore Iron Ore Futures for March Settlement Drop Below $70
  • Money Managers Raise Aluminum Bullish Bets on LME in Latest Week
  • WTI Rises Before OPEC Meeting as Dollar Weakens; Brent Stable

 

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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