Here are some newsitems:
BI - S&P passes 1900 for first time in ever. I like putting the boots in at BI, but really Mamta Badkar and Sam Ro are very much worth following. Here Sam explains what all the goldbug doomers are too ignorant to have a clue about:
"We anticipate GDP growth to broaden in 2014 and this implies that growth will be less scarce in terms of companies achieving better revenue profiles," predicted JP Morgan's Tom Lee back in December. "Hence, investors will likely be less willing to chase traditional growth stocks and “unit growth” stories."Good work Sam! Now quit that rag BI and get yourself a real job.
You see, since the financial crisis, revenue growth prospects have broadly been pretty anemic due to uncertainty and weak economic growth. Investors seeking growth had been to turn to secular growth (that is, businesses that grow regardless of economic conditions) like the social media stocks.
But with economic prospects improving, growth has broadened. In other words, growth companies like the social media stocks aren't the only growth plays in town. This is what Lee meant when he said that "growth will be less scarce."
Bespoke - small-business optimism hits six year high. And if you can please that bunch of ignorant right-wing losers then you've got a great economy. Especially heartening is how 24% are now finding jobs "hard to fill". This means the days of screwing over labour are past.
Calculated Risk - April retail sales. Below consensus, but March was revised upward.
BI - Dogecoin hacked: here's what you need to know. Ha ha! Dogecoin also sucks! That's what you need to know! God luck, Raoul Pal! Good luck, Jeff Berwick! Ha ha! You guys totally suck. Losers!
Gawker - here's what happens to Ann Coulter when she goes somewhere that people can talk back. She made the mistake of showing up on Twitter, and now an army of millions is making her pay the price.
There are some especially funny pics in the fark thread, but I think I'm wiser to post them after I'm home from work.