The blatant lie about inflation is the one that gets me. How can anyone in good conscience try to convince the public that we only have .5% core ppi inflation... absolutely absurd. Guess they figure we can't do simple math when we're standing at the cash register.
I'm CEO of an engineering consulting firm and every cost that we have has skyrocketed this year. The reliability of the numbers is shot and they can't keep this lie going to prop up the corpse in the corner... the corpse is getting bloated now and is about to explode... what a stinkin mess this will be.
Those inflation numbers hit the bonds hard. They had been indicating that a FED rate cut of 50 basis points was baked in the April meeting. Now the expectation is only for a 25 basis cut and even that is looking shaky.
If the FED does NOT cut, the cheering of market bulls goes away. All that is left is earnings and they are not good and projections are falling fast.
Today, J&J had a slight beat but most of that was due to currency.
The big movers on QID will be INTC -- after the bell -- and IBM. I'm expecting INTC to miss (if only slightly) following in the footsteps of ORCL and AMD. That will get QID back to $49+ and then the really big one is IBM.