Welcome Back,

Together with Sauce Bae:

Market Headlines 👀 

• US weekly jobless claims come in at 222k; est: 220k.  

• US retail sales came in cooler than expected for the month of April.

• US Consumer price index (CPI) tracking inflation came in line yesterday at 3.4% within market expectations.

• Palo Alto Networks (PANW) is buying IBM’s cloud software assets QRadar.

• Dow Jones topped the 40,000 level for the first time ever in history.

• Vanguard announces a CEO change, appointing former BlackRock executive Salim Ramji as new CEO effective June.

Earnings 💸

• Walmart (WMT)

  • EPS: $0.60 beats (exp. $0.52)

  • Revenue: $161.5b beats (exp. $158.1b)

• Jd.com (JD)

  • EPS: ¥5.67 beats (exp. ¥4.67)

  • Revenue: ¥260.05b beats (exp. ¥258.35b)

• Grab Holdings (GRAB)

  • EPS: $-0.03 misses (exp. $-0.01)

  • Revenue: $653m beats (exp. $646m)

• John Deere (DE)

  • EPS: $9.01 beats (exp. $7.91)

  • Revenue: $13.61b beats (exp. $13.32b)

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

The S&P 500 closed at record highs following yesterday's in-line CPI print. Watch for price to either retest the breakout zone, or head to the 1.618 Fibonacci extension from here. (Contributed by Jason Krutzky of Trendspider ). For charting tools and insights visit their site.

Arguably the softer retail sales number is what pushed Wednesday’s bond rally as slowing consumer spending can, particularly on goods, can further slow down price increases. Inflation comes down with waning “cost push” and “demand pull.” (Contributed by Benjamin Lavine, CIO at Freedom Investment Management).

Market Preview 🎞️ 

• Friday, May 17th: Monthly options expirations (OPEX)

Enjoy reading?👇

That’s all for this week, folks! We’ll be back around the same time Monday with a curated list of important news, economic data and market highlights. 

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