Business

For once Twitter did not disappoint Wall Street, when moments ago it reported results that beat consensus estimates handily as non-GAAP EPS of $0.11 beat consensus of $0.02, even topping the highest estimate of $0.10, on revenue of $548.3 million, also beating est. of $509 million (just don't look at the GAAP EPS loss of 8 cents). Helping the beat was a jump in monthly active users, which rose to 328 million, beating estimates of 322 million, on Q1 daily active usage up 14% y/y, higher than 11% in 4Q and 3% in 1Q16.

With little macro data overnight (aside from a modestly disappointing Australian CPI print), offset by an ongoing of corporate profits (this is the single busiest week for corporate earnings in more than 10 years), today everyone's attention will be focused on three things to come out of Washington: taxes, healthcare, spending.

After two days of back to back triple digit gains in the Dow for the first time since the election, overnight the torrid rally has faded, with European shares and U.S. stock futures little changed ahead of Trump's big unveil of his much anticipated tax cut plan as investors seek new impetus for a flagging relief rally. And, if as some traders expect, the rally is likely to be reignited no matter what Trump announces today (although a less hyperbolic plan may in fact be more favorable for risk, as it makes Trump's plan more likely instead of being shot down by Congress).

Having extensively previewed the various known and unknown aspects of Trump's tax plan yesterday, set to be announced shortly, the reality - at least according to Bloomberg's Mark Cudmore - is that no matter what Trump says today, it will almost certainly lead to more stock buying, leading to yet another "Trump Bump." Which is ironic for one main reason: "Trump’s tax plan is expected to promise great things, but it’ll mean little without approval from Congress.

According to the Stockholm International Peace Research Institute (SIPRI), worldwide defense spending is on the rise once again. As Statista's Dyfed Loesche notes, in total, spending stood at $1.69 trillion in 2016.

The ten countries who invest most into their military had a share of 73 percent in this, or $1.23 trillion.

You will find more statistics at Statista