Stocks are up nearly 2% today alone, with the S&P back to green for 2015. Among the reasons for today's rally: lower overhead courtesy of KO and CAT, which announced that between the two of them, they would fire some 2,000 workers, which is great news for stocks if not for actual employees as there will be even more dry powder for another record quarter of stock buybacks. First Coke, via the WSJ:
The much-denied hard landing in China is now underway with weakening data everywhere one looks. Today there is More Bad News For China as FDI Falls.
Foreign direct investment in China fell to the lowest level in two years in July, fueling concern that waning confidence in the nation’s growth prospects may restrain any economic rebound.
BEIJING: China's economy expanded 7.0 percent year-on-year in the first quarter, official data showed Wednesday, slumping to a new post global financial crisis low even as authorities take steps to bolster growth in the world's second-largest economy. The figure announced by the National Bureau of Statistics was lower than expansion of 7.3 percent in the final three months of last year, but exceeded the median forecast of 6.9 percent in an AFP survey of 15 economists.
Proactive Investor submits: Caterpillar (NYSE:CAT) reported Friday a surprising five-fold jump in first quarter profits, reaching an all-time quarterly record as the company benefits from a recovering economy and a resulting boost in construction equipment demand.