- Amazon ($AMZN) is developing plans to roll out it's own payment solutions program to compete with PayPal ($EBAY) but sorry guys.........no Bitcoin is not part of their master plan. Note Amazong already has over 200 million credit cards already in their registered accounts. This after plans came out the Facebook ($FB) is planning the same. We have been accumulating EBAY for months but all of this is not good news for the online name.
- People's Bank of China disclosed it withdrew 172B yuan ($28B) through repurchase agreements. China's money supply grew at its weakest pace in over a decade during March. Shares of banks and brokerage firms in China stumbled on concerns of capital outflow.
- Many will be watching for a follow through up day in the indexes today as the Nasdaq bounced off of February support. If this is the case, watch for precious metals to take a beating.
- Investor confidence in Germany fell for a 4th straight month which has a depressing effect on sentiment because Germany is considered the engine room of growth in the euro zone.
- Janice Yellen will be speaking this morning although a "canned" speech is anticipated. Three other Fed speakers today beginning at 3pm EST.
- Margins, Multiples, and the Iron Law of Valuation. Hussman Funds