Is Japan seeing a "Good news is bad news" QE market bending warp? It seems like it, after days and days of huge Nikkei surges, Japan posts a better than expected Q1 GDP of 3.5 vs. 2.7% and the Nikkei is down, remind you of the good ole days?
Europe for all intents and purposes was quiet.
This morning Walmart missed on revenue, but worse, guided lower.
- Q2 EPS expected in the range $1.22-$1.27, on expectations of $1.29
- Q1 comps ex-fuel -1.2% vs Exp. 0.4%
- Sam's Club implements first fee increase since 2006: raises membership fee to $45 nationwide
- During the 13-week period, the Walmart U.S. comp was negatively impacted by a delay in tax refund checks, challenging weather conditions, less grocery inflation than expected and the payroll tax increase. Comp traffic was down 1.8 percent, while average ticket increased 0.4 percent.
US Marine Amphibious Assault Ship and Marines are on their way to Israel...
The S&P downgraded Warren's Berkshire from AA+ to AA / Outlook Negative
The F_E_D could no longer hold the line which no one believed as the NY F_E_D (Empire State) confirmed yesterday and Initial Claims came in at 360K, on expectations of 330K, the worst print and worst miss in six weeks, which is almost exactly the same as 12 months ago showing nothing has changed or gotten better.As usual, last week's print was also revised higher from 323K to 328K.
Housing Starts came in at a downward revised 1021K to just 853K, well below expectations of 970K, the biggest miss since January 2007.
Finally, CPI data, declined from -0.2% to -0.4% in April, the worst MoM drop since December 2008.
Here's how ES responded.
It's going to be a busy day for me, lots of new analysis to be done.
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