Business

Despite all eyes on the slighlty better than expected MAUs (310m vs 308m exp.), Twitter is being clubbed like a baby seal after-hours as it has slashed Q2 revenue:

• *TWITTER SEES 2Q REV. $590M TO $610M, EST. $677.1M

Most crucially, Twitter explains, "Revenue came in at the low end of our guidance range because brand marketers did not increase spend as quickly as expected in the first quarter." Which also does not exactly bode well for the overall ad spend market.

Some other key points from the CEO:

Nothing to see here, move along...China commodity carnage, US data dismal, and a Fed meeting that has to err on the side of hawkishness...

The commodity carnage in China continued overnight...

Confirming The Conference Board's earlier disappointment, it appears the American public is chock-full of "cynics" and "fiction-peddlers" as Gallup reports Americans' confidence in the U.S. economy reached its lowest weekly level so far in 2016.

The latest figure represents a four-point drop from the previous week's average. The last time Gallup found a lower weekly score was in August 2015.

Yesterday, when reading through Pioneer's results we stumbled on something unexpected: not only was the company pumping more than its had previously guided, but announced it was waiting for $50/barrel to reactivate five to ten horizontal drilling rigs. To wit:

Submitted by Tim Price via SovereignMan.com,