The DJIA (+66 +0.52% to 12898.38), S&P 500 (+5.6 +0.40% to 1408.66), and NASDAQ Composite (+1.58 +0.06% to 2496.7) closed a bit higher.

The Consumer Discretionary sector (XLY +1.12%) including Retailers ($RLX +1.61%) was the leader and Energy (XLE -1.14%) including Oil Services ($OSX -2.17%) the loser. Goldminers ($XAU -1.80%) were soft along with a modestly firmer $USD (+0.15%) to 73.35.

Teekay LNG Partnership (NYSE: TGP) had strong increases in distributable cash flow the previous quarter and cash distribution. The stock was the Cara 100 winner on the session, up +5.9%.

The loser was Whole Foods Market Inc (WFMI -13.9%), which reported Q2 revenues were $1,866.5 million that was up +27.56% vs a year ago. But there was a miss of the revenue consensus by -1.4%. Q2 EPS was $0.29, down -9.4% vs a year earlier, which also missed consensus by -3.33%.

Also on the earnings front, Deere (DE) reported a +22% earnings gain, but guided weaker this quarter due to rising raw-material prices. Macy's (M) reported Q1 EPS $0.02 vs $0.16. That beat consensus, which was for a loss of -$0.02/share. Early this morning, (Cara 100) JC Penney reported a -50% drop in Q1 earnings, and guided significant weakness throughout 2008.

$GOLD yesterday lost -$3.10/oz to 866.50. But that was yesterday.

On the economics front, the Fed just reported that industrial production dropped -0.7% last month, more than double the consensus. Manufacturing output fell by -0.8%, a large part of which was from cutbacks in auto production as demand has dropped.

Traders immediately saw that as a requirement for the Fed to drop rates, and the precious metals have taken off on a moonshot in the past few minutes: spot gold +$21.44 (+2.5%) to 884.28; palladium +4.5 to 433; platinum up +72 to 2069; and silver up +0.4025 to 16.935.

June Crude Oil has also popped +$1.24/bbl to 124.25 as the $USD weakened. The June Dow 30 futures are up about +17 to 12896.

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Comments & Outlook

The US Industrial Production report showing plunging manufacturing output is the dominant force this morning. Watch UPS and FDX.

Have a great day.

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Links & Charts

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International Economics Review

US Economic Calendar.

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Knobias Cara100 Tables

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Cara 100 Daily RSI-7 Charts

At least one RSI value >70:

Ticker	Last	RSI-7M	RSI-7W	RSI-7D	Zone
ECA	90.51	89.17	80.22	73.36	Distribution Zone (for 3 days)
RIMM	138.56	86.21	83.00	66.41	Sell alert (trig. 1 days ago [on 2008-05-14 at $138.56, +0.00% chg], after a 2 day DZ)
ATVI	32.52	85.67	85.13	85.84	Distribution Zone (for 4 days)
SYT	61.20	84.83	66.74	59.91
GGB	44.31	84.57	85.99	68.56	Sell alert (trig. 1 days ago [on 2008-05-14 at $44.31, +0.00% chg], after a 4 day DZ)
PBR	66.27	82.50	71.57	65.60
SU	125.95	82.35	78.51	71.91	Distribution Zone (for 5 days)
RIO	40.50	80.40	80.16	59.05
PDA	57.19	78.66	77.50	58.87	Sell alert (trig. 7 days ago [on 2008-05-06 at $57.80, -1.06% chg], after a 2 day DZ)
TT	46.63	76.96	66.50	62.87
WMT	57.45	75.95	75.58	56.42
IMO	57.36	75.35	58.95	47.41
ABB	32.14	75.22	82.77	79.48	Distribution Zone (for 3 days)
BHP	90.21	74.36	73.49	70.44	Distribution Zone (for 1 days)
NUE	79.99	74.07	80.99	58.26	Sell alert (trig. 4 days ago [on 2008-05-09 at $78.41, +2.02% chg], after a 1 day DZ)
CEO	187.81	72.96	64.29	68.45
NKE	67.44	72.35	64.57	58.67
NTES	24.41	72.22	80.71	78.33	Distribution Zone (for 2 days)
STO	37.93	71.82	84.04	61.42	Sell alert (trig. 2 days ago [on 2008-05-13 at $37.93, +0.00% chg], after a 1 day DZ)
CHRW	65.69	71.12	85.64	63.66	Sell alert (trig. 6 days ago [on 2008-05-07 at $63.79, +2.98% chg], after a 4 day DZ)
COST	74.22	70.94	78.71	77.50	Distribution Zone (for 2 days)
EXC	84.41	70.63	60.67	52.76
BBD	22.79	69.91	73.63	49.14	Sell alert (trig. 7 days ago [on 2008-05-06 at $23.65, -3.64% chg], after a 2 day DZ)
CVX	97.72	69.20	75.55	70.14
LLTC	36.65	68.53	84.40	76.19
MICC	121.34	67.44	69.55	72.87
TS	56.48	66.76	77.95	69.99
TCK	49.16	63.81	68.60	70.39
TOT	84.79	63.54	71.94	66.34
DIS	34.80	60.10	74.24	70.51
DOW	42.43	57.95	78.04	84.29
INTC	23.84	56.57	69.85	70.29
ADBE	40.94	55.57	73.83	73.22
RY	49.53	53.94	62.91	70.05
TGP	29.95	48.71	60.23	82.15
SNDK	31.42	42.64	68.72	82.50
DELL	20.06	36.08	53.07	74.14

At least one RSI value <30:

Ticker	Last	RSI-7M	RSI-7W	RSI-7D	Zone
SBUX	15.92	12.02	27.17	36.34
UBS	30.87	29.43	32.49	28.68
WFMI	28.96	30.65	23.96	21.90
ABX	37.76	44.81	26.92	34.76
KO	56.54	50.34	27.01	23.31

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International Equity Markets Review

Europe

Here is the latest session data for the bourses of Europe.

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Here is the latest session data for the London stock exchange FTSE.

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Here is the latest session data for the German DAX.

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Here is the latest session data for the French CAC 40.

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Here is the latest session data for the Milan Italy stock exchange MIBTEL.

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Here is the latest session data for the Swiss market index.

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Asia-Pacific

Here is the latest session data for the Asia-Pacific stock exchanges.

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Here is the latest chart for the Japanese Nikkei 225 index.

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Here is the latest chart for the Singapore index .

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Here is the latest chart for the Shanghai Composite index .

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Here is the latest chart for the Hong Kong Hang Seng index .

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Here is the latest chart for the India BSE 30 index .

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Here is the latest chart for the Australian All Ordinaries index .

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US Equity Markets Review

DJIA (interactive) chart

NASDAQ Composite (interactive) chart

Table 14: Dow 30 List

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
AA	42.00	-0.12	-0.28%	10.27%	20.76%	16.76%	16.25%	18.78%	13.94%	9.52%
UTX	75.16	0.24	0.32%	2.92%	3.71%	3.48%	-0.07%	3.45%	0.32%	10.12%
INTC	23.84	0.08	0.34%	2.89%	7.10%	7.73%	-5.96%	16.52%	-7.78%	7.78%
IBM	127.52	0.94	0.74%	2.72%	5.65%	5.85%	21.81%	20.15%	23.28%	20.79%
CVX	97.72	-0.01	-0.01%	2.56%	1.63%	6.30%	4.56%	17.91%	13.43%	20.84%
MSFT	29.93	0.15	0.50%	2.46%	4.94%	3.39%	-15.02%	5.02%	-11.79%	-3.36%
DD	49.58	0.57	1.16%	2.14%	1.37%	-2.97%	13.35%	7.27%	7.99%	-1.74%
MRK	39.83	0.66	1.68%	2.10%	4.71%	-1.19%	-30.57%	-15.07%	-30.49%	-23.52%
T	39.61	0.35	0.89%	2.04%	2.32%	5.32%	-3.39%	4.68%	0.69%	-1.05%
HD	29.12	0.37	1.29%	1.96%	1.11%	3.93%	11.53%	5.85%	0.31%	-25.35%
MCD	60.44	-0.73	-1.19%	1.79%	1.44%	5.70%	4.03%	8.74%	6.60%	19.38%
VZ	38.95	0.84	2.20%	1.75%	1.22%	8.65%	-9.86%	2.45%	-10.50%	-6.37%
AXP	49.50	0.49	1.00%	1.64%	3.08%	13.14%	-3.02%	8.34%	-16.24%	-20.70%
CAT	82.75	-1.32	-1.57%	1.37%	1.06%	4.72%	17.16%	16.90%	18.16%	8.45%
MMM	77.73	0.55	0.71%	1.37%	1.08%	-3.67%	-6.02%	-3.19%	-3.09%	-8.37%
BA	85.69	0.61	0.72%	1.35%	0.98%	11.76%	-1.07%	0.55%	-7.65%	-8.41%
XOM	89.91	0.23	0.26%	1.23%	-3.40%	-3.21%	-3.85%	5.10%	4.17%	10.66%
WMT	57.45	0.80	1.41%	1.09%	-0.91%	0.67%	22.49%	14.97%	23.52%	20.09%
PFE	20.06	0.09	0.45%	0.70%	-0.25%	-4.93%	-12.44%	-10.65%	-15.04%	-26.33%
DIS	34.80	0.47	1.37%	0.29%	7.31%	14.78%	9.30%	7.67%	9.23%	-3.28%
JNJ	66.81	0.40	0.60%	-0.15%	-0.42%	1.69%	1.37%	6.40%	-0.12%	6.71%
GE	32.51	0.18	0.56%	-0.18%	-0.58%	0.87%	-11.56%	-5.47%	-16.66%	-11.17%
PG	65.50	-0.23	-0.35%	-0.46%	-2.31%	-5.44%	-9.42%	-1.70%	-8.44%	6.12%
KO	56.54	0.04	0.07%	-0.86%	-3.96%	-7.54%	-7.45%	-3.43%	-7.86%	7.49%
JPM	45.91	0.43	0.95%	-1.42%	-3.65%	2.11%	8.87%	7.74%	1.68%	-11.42%