Come on, we had to...
Yet again, VIX was slammed to keep the S&P 500 off the red line for 2016 losses...
And while Trannies tumbled, Nasdaq, Dow, and S&P was desperately held at unch for as long as possible...
While markets remain relatively subdued ahead of tomorrow's nonfarm payrolls report, after several days of losses in US stocks, which have taken "sell in May" to heart and pushed the S&P500 to three week lows, overnight markets ignored the latest weak data out of China where the Caixin Services PMI was the latest indicator to disappoint (dropping from 52.2 to 51.8), and instead focused on crude, which rebounded from yesterday's post inventory-build lows and briefly printed above $45/bbl over uncertainty related to the impact of Canada wildfires on production and how long will last.
Submitted by Simon Black via SovereignMan.com,
There’s something about being insanely rich that people will believe every word that comes out of your mouth no matter how bizarre.
And no, I’m not talking about Donald Trump. Warren Buffett is an even better example.
As one of the richest men in the world, Buffett’s opinions carry almost Biblical impact, even when they might be completely ridiculous.
But but but Tim Cook said AAPL was "optimistic" about China!!!
Despite a very modest beat of expectations US worker productivity fell for the 2nd quarter in a row (down 1.0% vs 1.3% QoQ), the two-quarter-average output per hour isdown 1.4% - the worst slump since 1993. Unit labor costs rose by a better than expected 4.1% (helped by a downwardly revised 2.7% rise in Q4), the highest since Q4 2014.
America’s productivity slump is the biggest in nearly a quarter century...