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INTERVIEW: Joseph Saluzzi Of Themis Trading: Lingering Negativity Could Drive The S&P 500 South Of 1270
In an interview with RTTNews, Joseph Saluzzi, co-head of equity trading at Themis Trading, discusses the lingering negativity on Wall Street. People are always wondering, “what’s the next shoe to drop?” says Saluzzi. He explains the effects could be major, driving the S&P 500 south of 1,270

Stocks End Volatile Trading Day Mostly Lower
After seeing considerable volatility in early trading on Friday, stocks drifted to the downside in the afternoon, ending the day mostly lower. Troubling news from JP Morgan (JPM) weighed on the markets along with lingering uncertainty about the political situation in Europe.

INTERVIEW: Cary Leahey Of Decision Economics: There’s Too Many Cooks In The Kitchen
In an interview with RTTNews, Cary Leahey, a senior economist with Decision Economics, says there are “too many cooks in the kitchen” for an easy outcome to the Greek debt situation. He goes on to explain that if Greece leaves the EU, the effects here in the US would be minimal, and we should focus on the data here at home.

Stocks Close Mixed Following Choppy Trading Day
After failing to sustain an early upward move, stocks showed a lack of direction over the course of the trading day on Thursday. The choppy trading on the day came on the heels of the downward trend seen over the past several sessions.

INTERVIEW: Chuck Lieberman Of Advisors Capital Management: “The Bottom Line Is, This Is More Psychological Than Substantive”
In an interview with RTTNews, Chuck Lieberman, chief investment officer for Advisors Capital Management, discusses the morning’s bounce back on Wall Street. “The market had gone down too much. Europe has problems, that’s been clear for a long time. It’s not going to get cleared up anytime soon…But domestically the economy is doing ok so there really is no basis for weakness domestically,” says Lieberman.

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Earnings

Nvidia Profit Plunges, But Provides Upbeat Revenue Guidance
Nvidia reported a 55 percent decline in profit for the first quarter, reflecting lower revenues and higher operating expenses. However, the graphics chipmaker's revenue for the quarter beat analysts' estimates.

Macy's Beats Estimates, But Maintains Weak Outlook
Department store chain Macy's Inc. on Wednesday reported a 38 percent increase in profit for the first quarter, reflecting higher comparable store sales and a surge in online sales. Earnings per share beat analysts' estimates.

HSBC Q1 Profit Down On Adverse Credit Spread
British lender HSBC Holdings said that a sharply higher adverse credit spread dragged its first-quarter profit down. Excluding this, underlying profit climbed with significant revenue performance in Global Banking and Markets and Commercial Banking segments as well as regions of Hong Kong, Rest of Asia-Pacific and Latin America.

OfficeMax Profit Plunges On Store Closure Charges
OfficeMax posted a sharp drop in profit during the first quarter as store closure charges ate into the bottom line. Excluding the charges, earnings were higher and came in above the Street estimates. The office products distributor maintained its full-year forecast, but cautioned that second-quarter sales could be down.

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Interviews

INTERVIEW: Joseph Saluzzi Of Themis Trading: Lingering Negativity Could Drive The S&P 500 South Of 1270

INTERVIEW: Cary Leahey Of Decision Economics: There’s Too Many Cooks In The Kitchen

INTERVIEW: Chuck Lieberman Of Advisors Capital Management: “The Bottom Line Is, This Is More Psychological Than Substantive”

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Economic News

U.S. Producer Prices Dip 0.2% Amid Drop In Energy Prices
With energy prices showing a notable decrease in the month of April, the Labor Department released a report on Friday showing an unexpected drop in producer prices for the month.

U.S. Wholesale Inventories Rise 0.3%, Less Than Expected
Wholesale inventories in the U.S. rose by less than expected in the month of March, according to a report released by the Commerce Department on Wednesday, with a notable increase in inventories of durable goods partly offset by a drop in inventories of non-durable goods.

PERSONAL FINANCE: Student Loan Debt Is Now The #1 Form Of Non-Mortgage Debt
In an interview with RTTNews, Chris Christopher, US Economist at IHS Global Insight, discusses the surge in student loan debt and its impacts on the economy. Student loan debt has surpassed the $1 trillion mark, becoming the highest level of non-mortgage debt that Americans hold. “More and more college graduates are putting off marriage, they’re moving back to the nest…so there’s less housing demand and rent is on the way up so things are awful tough,” says Christopher.

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Market Commentary & Analysis

Bargain Hunting May Lead To Early Strength On Wall Street

Wall Street Close 051512

Stocks Seeing Considerable Volatility

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Corporate News

Target Q1 Profit Rises; Lifts 2012 Earnings Forecast - Quick Facts

Staples Profit Declines On International Weakness, Severance Costs

Pennys Earnings 051612 Leon Thomas

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Forex

INTERVIEW: Mike Englund of Action Economics On Effects Of Jobs Data

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