Market Mover Wednesday: Retail Sales Drop…Intel pays record antitrust fine…

UPDATE: TIMMEH LIVE NOW HERE CNBC STREAM

DOW futures down sharply -125, the loons were expecting consumers to shop I take it, they expected it to be flat…Pfft! Sell in May baby, hasn’t failed me yet…

Also in the headlines Timmeh is speaking in a few minutes-PPIP managers being announced, they should RUN not walk RUN away from Uncle Sam…

Intel got it’s axx kicked by the EC on an anti Trust ruling, EU fines 1.45 Billion against Intel for antitrust violations, that represents 4% of Intel’s 08 sales, AMD is happy, LOL..

And the inflation hawks are out and making waves, the 10 yr has been rising steadily and refis are dropping as the 30 yr Mortgage rate rises with it….

..refinance applications fell 11.2 percent to 4,588.6, the lowest since mid-February,…

And have you seen OIL?! It broke out over $60 a barrel briefly yesterday as the US Dollar continues to drop on the money we are printing, i-n-f-l-a-t-i-o-n- baby….

And just to put a cherry on top Team TOTUS is preparing to regulate bank pay..

CNBC:

Sales at U.S. retailers fell for a second straight month in April, pulled down by sluggish gasoline and electronic goods purchases, government data showed on Wednesday.

The Commerce Department said total retail sales slipped 0.4 percent after falling by a revised 1.3 percent in March, previously reported as a 1.2 percent drop.

Excluding motor vehicles and parts, sales dipped 0.5 percent in April, compared to a 1.2 percent decline the prior month.

..Analysts banks  polled by Reuters had forecast retail sales to be flat in April. Excluding motor vehicles, sales had been predicted to rise 0.2 percent….

CNBC breaking Timmeh;s comments:

Reopening capital purchase program to smaller community banks..WHA??? that money is supposed to go back to taxpayers, ya know to reduce the frakkin ginormous debt! we need more info on this…I don’t think these players should want this money did they learn nada froms eeing how the big boys got rolled by Uncle TOTUS?

EU Record Fine on Intel:

The European Commission fined Intel a record 1.06 billion euros ($1.45 billion) on Wednesday and ordered it to halt illegal rebates and other practices it used to squeeze out its rival, AMD.

The world’s biggest chipmaker paid computer makers to postpone or scrap plans to launch products using AMD chips, paid illegal rebates to encourage them to use Intel chips and paid a retailer to stock computers with its chips, the Commission said.