TUESDAY 2/24/15; Greece Reforms Approved; Ukraine Fighting Continues; HD; M; ODP; PF; SAFM; TOL; Consumer Confidence; Fed Chair Yellen Testifies Before Senate Committee; FTSE, DAX, SPX, INDU, RUT All-Time Highs; COMPQ 15-Year Record High; CBI; EIX; HPQ; DWA; SAM

Asian indexes are higher except for the Hang Seng. Volumes remain light. China will resume trading tomorrow. NIKK +0.7%. The Nikkei Index touches 18603 another 15-year high. SPASX200 +0.3%. HSI -0.4%. Standard Chartered collapses over -4%. KOSPI +0.4%. Taiwan resumes trading after the New Year holiday with indexes printing at seven-year highs; the benchmark Taiex gains +1.1%. AAPL component suppliers trade higher. BHP Billiton surprises with 

















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 Hewlett-Packard lays an egg with an earnings miss and lower guidance. HPQ drops -4% and lower. Hewlett complains that the higher dollar is hurting profits. The weak results will create a drag on the Nasdaq tomorrow. DWA loses -3% on weak earnings. Peer to peer loan provider LC drops -11% after reporting earnings that beat by a hair. SAM trades lower after earnings so shareholders drink a Boston Beer to drown their sorrow. EIX beats on earnings. CBI is a bellwether for the LNG (liquefied natural gas) industry and it beats by three cents on EPS, misses on the top line and guides lower.

President Obama vetoes the Keystone pipeline bill as expected. The project would have created thousands of jobs across the Midwest. All environmental studies have approved the project. The president, a democrat, does not care since most of the voters in the states that would benefit are republicans. At the same time, most environmentalists opposing the project vote democrat so they are pleased. Further, the president’s wealthy buddy Warren Buffett becomes richer since more oil will have to be transported via rail and Buffett owns the railways. The rail transportation of oil, as evidenced by several tragic train accidents over the last year, is far more dangerous than pipelines. Political baby games and partisanship rules America in 2015.