TUESDAY 4/28/15; Japan Retail Sales; UK GDP; AET; WHR; MAS; F; CNX; CMI; UPS; MRK, PFE; BMY; JBLU; VLO; AAPL All-Time High; Two-Day FOMC Meeting Begins; Consumer Confidence; AKAM; TWTR; BWLD; X; CLF; EIX; WYNN

Japan Retail Sales disappoint down -9.7% missing the -7.3% expectations. Traders will likely expect more stimulus from the BOJ after their meeting this week due to the weak data so the Nikkei Index will probably trade higher. The central bankers are the market. Oil trades lower. WTIC oil 56.27. Brent oil 64.15. Gold is steady at 1202. Copper drops -0.6% to 2.7610.

Asian indexes trade generally lower overnight following the weakness in the States with the NIKK up +0.4%. Fanuc, the industrial robot maker, trades higher after raising its dividend. HMC reports higher revenue but operating profit drops. Honda blames the weaker yen for the lackluster performance since many factories are now located internationally closer to the end users and do not benefit as much as other auto manufacturers from the weaker currency. HMC squeezes out a +0.3% gain. Komatsu drops -3% after earnings.

The SPASX200 drops -0.6% as the 6000 level, not seen for seven years, remains elusive. Gold miners trade higher. The KOSPI loses -0.5%. Korean auto makers trade down while shipbuilders trade higher. Bangkok SET loses -1.3% and the Jakarta Composite drops -1.2% down for the fifth consecutive day due to weak earnings out of Indonesia. The SSEC prints a rare down day losing -1.1%. The HSI is flat.

The Nepal earthquake death count exceeds 4000. The death toll may reach 10000 making the disaster worse than the 1934 quake.

The Baltimore, Maryland, USA, riots continue overnight as law enforcement receives criticism over the handling of the situation. Fires and looting is rampant for this major US city. Curfews are in effect today to try and restore order. Schools are closed and the only folks that should be on the streets are those commuting to and from work.

European indexes sell off from the opening bell. Greece PM Tsipras limits the duties of the flamboyant and controversial FM Varoufakis reshuffling the bailout negotiation team. The ECB and Eurogroup officials were very unhappy dealing with Varoufakis. German Chancellor Merkel says Russian sanctions will likely be renewed. BP and Total each gain +1.3% after both report profits above expectations. Spain’s Santander bank is up +0.7%. Daimler gains +2.4% after releasing earnings. AAPL trades +1.6% higher in Frankfurt.

At 4:11 AM, the DAX is down -0.4%. CAC -0.8%. FTSE -0.7%. IBEX is marginally lower. Greece stocks gain +0.4%. US futures are negative. S&P -5. Dow -34. Nasdaq -5. Euro 1.0872. Dollar/yen 119.08. Pound 1.5230. Aussie dollar 0.7880.

WTIC oil 56.49. Brent oil 64.30. Natural gas 2.47. Gold 1201. Silver 16.37. Copper is flat at 2.7775.

Treasury yields are; 2-year 0.54%, 5-year 1.35%, 10-year 1.93%, 30-year 2.62%. German bund 0.161%. Japan 10-year yield 0.30%. UK 10-year yield 1.697%. Greece 10-year yield 11.51%.

At 4:30 AM, UK GDP is disappointing at +0.3% month on month versus +0.5% expectations the weakest read since Q4 2012. The pound drops to 1.5185. January was a soft month. European stocks weaken as the session continues. DAX -1.5%. CAC -1.9%. FTSE -1.3%.

Today is a huge and important earnings day providing a wide cross section of companies providing broad-based insight into strength of the economy. At 6 AM, AET trades marginally lower in the pre-market after beating on EPS but missing on the top line. F misses on the top and bottom lines and is whacked -2%. European auto sales are weak and Ford reports a slowdown in sales at small Chinese cities. COH is bludgeoned -7% after reporting weak earnings. AAPL is running strongly higher in pre-market trading up +2.5% near 136 a new all-time record high.

Pfizer beats by two cents on EPS and on the top line at $10.86 billion versus $10.76 billion expected. PFE drops -0.7%. MRK gains +4.2% after beating on the top and bottom lines and providing strong guidance. BMY drops -1% after earnings.

At 7:20 AM, S&P -9. Dow -83. Nasdaq -9.

WHR drops -1.4% after 









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 potential violence but the general expectation is that the evening will be peaceful. Protestors are in the street but the demonstrations are calm and orderly. Baltimore Mayor Stephanie Rawlings-Blake conducts a press conference donning a hat with the “UA” logo so the popular hip athletic retailer Under Armour receives free publicity. Tensions increase as the sun begins to set on Baltimore; the curfew is 10 PM EST.