Business News

Sell in May and Go Away???

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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