Well, on the macro side both the Philly Fed and Leading Indicators were better than expected.
Earnings results were a hat trick of disappointments as Google, Chipotle, and Microsoft all turned in misses that took their stocks lower, less so for Microsoft the stodgy giant and greater for the flyers GOOG and CMG.
Microsoft is betting quite a bit on the Windows 8 software release, trying to regain a footing they are losing in the tablet and mobile world.
Microsoft and Chipotle released on schedule after the bell, but Google has a premature release during lunchtime as the publisher R. R. Donnelly accidentally released an filing prematurely.
It is not surprise that three consumer oriented stocks are lower. The financial system is strangling the real economy with the corruption of zombie rot.
GOOG was hurt quite a bit in revenue per click which may be a feature of the popularity of mobile apps which apparently do not provide as much revenue opportunity as conventional computing platforms. This may be explored on the conference call later this evening.