TODAY’S S&P 500 SET-UP – December 15, 2014
As we look at today's setup for the S&P 500, the range is 58 points or 1.12% downside to 1980 and 1.78% upside to 2038.
SECTOR PERFORMANCE
EQUITY SENTIMENT:
CREDIT/ECONOMIC MARKET LOOK:
- YIELD CURVE: 1.55 from 1.54
- VIX closed at 21.08 1 day percent change of 4.98%
MACRO DATA POINTS (Bloomberg Estimates):
- 8:30am: Empire Manufacturing, Dec., est. 12 (prior 10.16)
- 9:15am: Industrial Production m/m, Nov., est. 0.7% (pr -0.1%)
- 10am: NAHB Housing Market Index, Dec., est. 59 (prior 58)
- 11am: U.S. to announce plans for auction of 4W bills
- 11:30am: U.S. to sell $24b 3M bills, $26b 6M bills
- 4pm: Net Long-term TIC Flows, Oct. (prior $164.3b)
GOVERNMENT:
- Acting Deputy Sec. of State Wendy Sherman and U.S. negotiating team to meet with Iranian officials ahead of talks with world powers on Iran’s nuclear program
- 10am: Sen. Orrin Hatch, R-Utah, joins Financial Services Roundtable discussion on “Retiring Around the Globe";
WHAT TO WATCH:
- PetSmart Agrees to Be Bought by BC Partners Group for $83-Share
- Oil Trades Near 5-Year Low as OPEC Seen Resisting Cuts at $40
- Senate Passes U.S. Funding Bill After Cruz Challenge Rejected
- JPMorgan, Citigroup, Others to Report Nov. Credit Losses
- Sony Asks Media to Destroy Data as Sharpton Meeting Looms
- Scott’s ‘Exodus’ Ends ‘Mockingjay’ 3-Week Run Atop Box Office
- Lockheed Faces Pension-Mismanagement Trial Over Fees, Returns
- Unlocking Japan Growth Potential Looms as Task for Abenomics 2.0
- American Air, EA, Lam Research to Be Added to Nasdaq 100
- Hostages Flee Besieged Sydney Cafe as Police Seek Bloodless End
- ‘Monsters’ Line Road to Paris Climate Deal With Rich-Poor Divide
- McDonald’s Said to Seek Ad Agency Ideas to Boost Sales: WSJ
EARNINGS:
- Verifone (PAY) 4:01pm, $0.41
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
- Oil Jumps Most in Two Weeks as Fighting, Strike Curb OPEC Output
- Gold Declines to Lowest in Almost a Week on Fed Rate Outlook
- Hedge Funds’ Bullish Gold Bets Defy Goldman Outlook: Commodities
- Goldman Sees U.S. Oil Output Steady as Costs Sink With Price
- Wheat Drops From 6-Month High as World Crop Eases Russia Concern
- Nickel Leads Industrial-Metals Increase After Plant Shutdown
- Oil Slump Blindsides Bulls That Wagered on Rout Ending: Energy
- U.A.E. Says Oil Market to Stabilize If Shale Output Doesn’t Rise
- Libya Imposes Force Majeure at Two Oil Ports Amid Clashes
- Rebar Falls as Weaker China Property Sales Seen Hurting Demand
- Rubber Surges Most in Nine Months on Optimism About Thai Buying
- Bird Flu Threatens Vancouver Christmas Dinners as Turkeys Perish
- U.A.E. Sees OPEC Output Unchanged Even If Oil Drops to $40
- Brent Forecast to Cost 33% Less as Demand Slows: 2015 Outlook
- Oyster Herpes Has Scientists Trying to Save $4 Billion Industry
CURRENCIES
GLOBAL PERFORMANCE
EUROPEAN MARKETS
ASIAN MARKETS
MIDDLE EAST
The Hedgeye Macro Team
