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5.  Industrial Production – rose higher than expected  A jump in automobile manufacturing was largest factor  Industrial production is expected to remain robust through April  Jobless Claims – rose slightly higher than expected  The four week average is still trending downward  Consumer Price Index (CPI) – rose 0.5%  This is a measure of inflation  Largest factors for the hike is Food and Energy Prices

7. Its all about the 3 E’s… Earning’s Employment Energy

8. CompanyExpected EPSEPS ResultSurprise Alcoa (AA) 0.2720.282.9% JP Morgan (JPM) 1.161.2810.4% Google (GOOG) 8.108.080.3% Bank of America (BAC) 0.2680.1736.6% Mattel (MAT).49.502.0%

9.  Mixed Signals  Claims to be more profitable in all aspects of business  Also claims to be facing more expenses  Fourth consecutive quarter of profits… yet 2011 Q1 is weaker than last earnings release

10.  JPM beat expectations, however still suffered huge loses relating to mortgages.  Large increase in foreclosure servicing costs  Offset losses through excellent commodity trading  BAC Missed earnings due to losses relating to mortgages. (-$2.36 Billion)  Had to buy back more “bad mortgages” than expected  Both BAC and JPM had poor loan growth

11. Bank of America Thu 14 Apr 11 | 05:20 PM ET

12. Earnings next week could bring about greater amounts of volatility… Volatility could be off-set with positive economic data…

13. Next Week’s Profit Parade Fri 15 Apr 11 | 06:00 PM ET

14. CompanyExpected EPSEPS Result IBM 2.30? Intel (INTC) 0.46? AT&T (ATT) 0.19? Apple (AAPL) 7.45?

17.  World’s largest commodity trader  50% of business is commodity trading (Metals, Energy & Agriculture)  50% mining: copper, coal, zinc, aluminum etc  One of the world’s largest private companies  Very secretive company, employee owned  2010 Revenue: $145 billion  Xstrata’s largest shareholder, 35% stake  talk of a Xstrata-Glencore merger in the past, possibly only with Glencore’s mining units

18.  Dual listing in London & Hong Kong  U.S. retail investors can buy Glencore on Pink Sheets ADRs  Largest IPO in 2011  Mid-May likely  Company could be valued from $50-$80 billion  Many view Glencore in the “must own category”  Will help company raise capital for projects & acquisitions

19. Glencore’s IPO Plan Airtime: Thurs. April. 14 2011 Bloomberg Video

20.  Just raised its bank’s required reserves for 4 th time this year  Other government inflation- fighting tactics are likely around the corner.  Hurts demand for commodities.