"Symbolizing how far the United States and Japan have come in building a deep and abiding alliance based on mutual interests, shared values and an enduring spirit of friendship between our people," according to The White House official statement, The Hill reports that Nobel-Peace-Prize-winning President Obama will become the first sitting U.S. president to visit Hiroshima, Japan, later this month. Is this merely continuing Obama's apology tour?

When last Friday's disappointing payrolls report hit, which saw just 160K jobs added in April, stocks initially tumbled only to surge as the case of a June rate hike was quickly taken off the table. Not only that, but according to Fed Fund futures as of this moment, the Fed won't hike until some time in early 2017. However, one look at the latest JOLTS data, admittedly Janet Yellen's favorite jobs indicator, paints a very different picture.

Submitted by Mike Shedlock via MishTalk.com,

In the wake of an IMF threat to back out of the Troika deal with Greece, Germany blinked under the IMF pressure.

Well, sort of.

The result was not quite the debt relief the IMF wanted, but it was more than Germany was prepared to offer yesterday.

Please consider Berlin Opens Way to Greek Debt Relief Talks.

While wholesale sales rose modestly MoM, the continued stagnation in wholesale inventories (lowest since 2010) bodes poorly for Q2 GDP. At 1.36x, the wholesale inventories-to-sales remains near record highs, but Automotive inventories to sales soared to cycle highs at 1.83x (as Auto sales dropped 0.7% MoM but inventories rose 1.0% MoM).

The gap remains wide...

Leaving inventories-to-sales near record highs...

As Automotive inventories continue to build as sales collapse...

Until yesterday, Peer2Peer leader LendingClub was the darling of the sellside industry, with 12 buys, 7 holds and just 2 sells.

And as is usual on Wall Street, what a different 1 day makes because just hours after a major internal scandal was revealed that saw the CEO getting kicked out, and potentially implicating none other than LC board member John Mack, this morning it has been a relentless barage of negative notes from all those who until recently loved the stock.

Some examples, first from CRT which just cut LC to sell with a $5 price target...