Today is May Day and we are not going away. Tomorrow is the Wood Stock of capitalism, the Berkshire Hathaway annual meeting in Omaha Nebraska.
With a big sell off yesterday we ended the month of April with the S&P 500 and NASDAQ flat. The international index was up 3.65%. (Bloomberg)
Payment processing giant Visa says it earned $1.55 billion, down 3% from the same period a year earlier. Revenue rose almost 8% to $3.41 billion. Like other global companies, Visa's results were impacted by the strong U.S. dollar. Visa said the dollar reduced revenue growth by 2.5%. Visa executives, said lower gas prices trimmed 3% points off U.S. payment growth. (AP)
A federal judge granted much of the U.S. Justice Department's demands for an antitrust injunction against American Express in a lawsuit over steering rules for merchants. The judge ruled the company violated antitrust law by barring merchants from steering consumers to lower-cost credit cards. (CNBC)
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