Salient to Investors:

Mark Luschini at Janney Montgomery Scott said the payrolls report is a huge disappointment and will spook the market.

Eric Zoldan at JHS Capital Advisors said we are in a very difficult economic environment and expects a lot of pressure on the market. Zoldan said most importantly the number of working adults is falling because they’re dropping out of the labor force at a precipitous rate.

S&P 500 earnings dropped 1.9 percent in Q1 2013, the first year-over-year decrease in profit since 2009. Earnings fell at energy companies the most at 6.6 percent, followed by tech’s decline of 4.1 percent.

The world’s top 4 developed-market central banks – the BOJ, Fed, ECB and BOE – are aligned in spuring growth: risking inflation and asset bubbles and tension with emerging markets over exchange rates and capital inflows.

Pippa Malmgren at Principalis Asset Mgmt said intervention is unprecedented on many levels: the most in terms of size of economy and number of central banks to create as much inflation as possible.

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