S&P 500 –0.57%. The market sold off for the first hour for an unknown reason. My best guess is Tepper telling CNBC last night that he was “bullish”, a down-tick from “super bullish” last time. Later in the afternoon, Fed Evans who is usually dovish came out with hawkish comments on the QE taper in the coming months of 2013.
$FOSL good earnings, $KORS good earnings, $DIS 2c EPS beat tiny sales miss, $Z beat both lines and raised sales guidance for the year, $FSLR miss and guide-down, $AEO miss, $SNE rejects Dan Loeb’s plan, Jeff Bezos buys the Washington Post
JOLTS job openings 3.936M vs. 3.85M est.
Fed Evans says "quite likely" to reduce QE "starting later this year"
Fed Evans sees unemployment rate 7.2-7.3% by year end and 7% by mid-2014
Fed Evans sees U.S. economy adding 175-200K a month
Fed Evans sees GDP growth 2.5% in 2H-2013
Fed Evans says his own outlook for QE is same as Bernanke’s view that QE will end by mid-2014
Fed Evans says rates to stay low for a year after QE3 ends or less if GDP >3.5%
Fed Evans on $1.2T QE3 efficacy "might not be necessarily as accommodative as some market participants have expected"