SP 500 and NDX Futures Daily Charts - All Eyes On AAPL

All eyes are on AAPL which reports earnings and revenues at 4:30 PM.

Tomorrow afternoon is the FOMC rate decision, and on Friday the advance GDP number from Q1.

US Leads Developed Nations In Percent of People In 'Low Wage Work'

This could be a good question on a quiz.

With regard to Victorian England I have seen estimates that show that almost 20 percent of workers were 'in service,' that is, were employed as domestic servants.

I see where they are already bringing back debtor prisons in the States.

And Australia and New Zealand are falling behind it appears.   Some stubborn fascination with equality no doubt, insufficient elitism.  

Research shows the US is a low wage country
By Mark Thoma
April 23, 2012

(MoneyWatch) - Recent research from John Schmitt of the Center for Economic Policy Research shows that the US leads developed countries in the share of workers earning low wages. The research also shows that increased wage polarization over the last several decades is one of the reasons for the large share of low wage-work in the US. The bars in this graph represent the share of workers in low wage work, where low wage work is defined as employees earning less than 2/3 of the median wage (approximately $10 per hour or $20,000 per year). In this category, the US leads among developed nations...

Research Shows that US is a 'low wage' country - Mark Thoma

Gold Daily and Silver Weekly Charts - Two Day Fed Meeting Weighs on Metals

The money-printers will announce their latest decision on Wednesday around 2:15 PM, after their two FOMC meeting.

Gold and silver typically sell off into such meetings so today was no real surpise. The correlation with the equity markets allowed our short stock hedges to function well.

I put out the latest Net Asset Value premiums this afternoon, and PHYS produced a fairly surprising .94% premium to NAV. That, ladies and gentlemen, is not a euphoric number.

SP 500 and NDX Futures Daily Charts

700 million shares had traded on the NYSE at the bell, and that is light, and symptomatic of the lack of broad participation in this market. Shares are getting tossed around like hot potatoes among speculators and trading programs, with little conviction.

The two big pivot points of expected news will be on Wednesday when the Fed reports its FOMC decision and economic outlook, and on Friday when the advance number for US GDP Q1 comes out.

Europe continues to overhang the risk trade.