Mike’s Morning Brief – May 11, 2016

Market opens lower after the strongest session in 2 months yesterday.  Disney missed on earnings for the first time in 5 years, despite its records at the box-office.  DIS is responsible for more than half of the DOW’s decline so far.  Helping take things lower this morning is Macy’s, who said the American consumer is quite cautious and keeping a tight wallet.  Bernie won again last night, as did Donald Trump.  Crude is higher while the Dollar is lower in early trading.  Goldman made a call yesterday that the Dollar bottomed.  We’re in that camp too.  Bonds are catching a bid, with the 10-Year Treasury yield still below 1.8%.

Have a great day.


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