THE HEDGEYE DAILY OUTLOOK

TODAY’S S&P 500 SET-UP – November 21, 2014


As we look at today's setup for the S&P 500, the range is 48 points or 2.18% downside to 2008 and 0.16% upside to 2056.               

                                                                                                                

SECTOR PERFORMANCE

 

THE HEDGEYE DAILY OUTLOOK - HDO Levels

 

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 13.58 1 day percent change of -2.72%

 

MACRO DATA POINTS (Bloomberg Estimates):

 

• 11am: Kansas City Fed Mfg Activity, Nov., est. 6

• 1pm: Baker Hughes rig count

 

GOVERNMENT:

    • Sec. of State John Kerry in Vienna for Iran nuclear talks
    • Final day of Clearing House conf. in NYC.
    • 12:45pm keynote Comptroller of the Currency Thomas Curry
    • 9:45am: Nellie Liang, Director of Office of Financial Stability Policy and Research, Federal Board
    • 10am: Senate Banking panel hears from William Dudley, president and CEO of Federal Reserve Bank of NY, at oversight hearing
    • 10am: Senate Permanent Subcmte on Investigations holds 2nd day of hearings

 

WHAT TO WATCH:

  • Dudley Testifies to Senate as Fed Starts Review of Supervision
  • Draghi Says ECB Must Raise Inflation Rate as Fast as Possible
  • PBOC Said to Inject Funds as IPOs Trigger Cash Squeeze
  • U.S. Said to Seek Multibank Settlement in Criminal Forex Probes
  • Bank of America Granted Penalty Relief in SEC Mortgage Case
  • Janus Says Soros’s Quantum Invests $500m With Gross
  • NewLink Said in Talks With Merck & Co. on Ebola Vaccine
  • Hewlett-Packard Selects Team to Manage Split Into 2 Cos.
  • Blackstone to Acquire GE Japan Apartments for $1.61b
  • CBS Agrees to Extend Deal With Dish as Negotiations Continue
  • Target Wants Bank Claims Thrown Out a Year After Data Breach
  • Panasonic May Start Tesla Battery Production Early: Asahi
  • Sysco/US Foods Merger Seen Approved on Disposals: NY Post
  • Disney Adds Movie Co-Prod., TV to Shanghai Media Alliance
  • Adelson Faces Repub. Rebellion on Online Gambling: W. Post
  • Costolo’s Family Trusts Sell 50% of Twitter Stock This Month
  • Google Testing Website Subscriptions for Ad-Free Browsing
  • Chinese Insurer Buys Sydney Hyde Park Sheraton for $400m

 

EARNINGS:

    • Ann (ANN) 7:31am, $0.68
    • Berry Plastics (BERY) 8:45am, $0.37
    • Foot Locker (FL) 7am, $0.79
    • Hanwha SolarOne (HSOL) 6am, no est.
    • Harbinger (HRG) 8:30am, no est.
    • Hibbett Sports (HIBB) 6:30am, $0.61
    • Sirona Dental (SIRO) 7am, $0.90

 

COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)

  • Banks Had Unfair Advantage From Commodity Units, Senator Says
  • Top Rubber Growers Agree to Reduce Exports to Boost Global Price
  • Aluminum Fee to Japan Seen Climbing to Record on Global Deficit
  • Oil at $75 Means Patches of Texas Lose Money for Shale Drillers
  • Goldman Lowers 2015 Nickel Estimate on China Pig Iron Output
  • Goldman, Glencore Found in ‘Merry-Go-Round’ Aluminum Trades
  • Soybeans Rebound From Two-Week Low on U.S. Feed Supply Outlook
  • Pigs Are Too Fat for Holiday Hams as Prices Surge: Commodities
  • Ebola Stokes Liberian Food Shortage as Hungry Farmers Eat Seeds
  • Goldman Sachs to Wind Down Uranium Unit After Failing to Sell
  • Gold Futures Fall a Second Day as Dollar Gains After Fed Minutes
  • Codelco Sees Copper Price Outlook ’Quite Stable’: Chairman
  • JPMorgan Power Market Influence Targeted in U.S. Senate Report
  • Saudi Arabia Tenders for 330,000 Tons of Hard Wheat
  • Goldman, Morgan Stanley Commodity Heyday Gone as Units Faulted

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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