WEDNESDAY 8/13/14; Japan GDP; DE; M; Retail Sales; Business Inventories; 10-Year Note Auction; CSCO

Japan brushes off a very weak GDP number at -6.8% the worse since March 2011 during the Fukishima disaster. The NIKK gains +0.4% to 15213. India trades flat to lower. Asian markets are upbeat trading higher despite weak data and tech struggling in yesterday’s trade.

China retail sales and industrial production data is weaker than expected; however, the SSEC is flat and HSI gains +0.8%. Traders like weak data since it means the central bankers will keep goosing the stoc



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merging countries. In the last five years, Cisco has axed 26K workers. NTAP trades up +0.9% reporting strong earnings in the data storage sector.

AMGN drops -2% after disappointing drug trials. WMT continues to trade lower adding to the -0.3% loss during the session which is a strong up tape. Wal-Mart earnings are released in the morning.