This Story has Got Sexy Legs

This story has got some sexy legs, with news from J.P. Morgan Chase (JPM) and Apple (AAPL) moving the market today. The issues of these two sexy ladies may seem to be company specific, but they are in fact broad reaching. In the case of J.P. Morgan Chase, corporate governance concerns have some shareholder activists seeking to break up the roles of CEO and Chairman of the Board, to break up the influence of any one man on any one company. In the case of Apple, the Senate is testing popular opinion with regard to the ability of major American corporations to keep income earned overseas completely free of taxation. It will be making Apple look shrewd and greedy today in order to close tax loopholes and bring more monies home to our ailing budget.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Sexy Lady!

Corporate Events

The shareholders of J.P. Morgan Chase (NYSE: JPM) are due to decide, though in a non-binding vote, whether to split the roles of Chairman and CEO, defining Jamie Dimon’s future at the bank. The early word is that the group seeking to defend shareholder rights will not get the support of shareholders, with institutional investors more concerned about keeping Jamie Dimon in full control atop J.P. Morgan Chase. Dimon, despite the recent trading issue at the company, is perhaps one of the most respected CEOs on Wall Street and maybe in America today.

Apple (Nasdaq: AAPL) is coming under scrutiny, as the Senate Permanent Subcommittee on Investigations will hear testimony today from the company’s CEO Tim Cook and other executives, along with two professors and Treasury and IRS representatives. At issue, just how Apple and other American companies avoid paying taxes on international income by exploiting tax loopholes between other nations and the United States. The U.S. government is basically trying to drum up popular support so that it can force U.S. multinationals to pay more taxes back home.

Look for investor and analyst meetings at MetLife (NYSE: MET), Motorola Solutions (NYSE: MSI), Williams Cos. (NYSE: WMB), Juniper Networks (Nasdaq: JNPR) and The Gap (NYSE: GPS). The UBS Global Healthcare Conference highlights presentation by Amgen (Nasdaq: AMGN). The Barclays Americas Select Franchise Conference produces the presentation of CVS Caremark (NYSE: CVS).

Look for earnings news from Home Depot (NYSE: HD), Medtronic (NYSE: MDT), Analog Devices (NYSE: ADI), Best Buy (NYSE: BBY), TJX Companies (NYSE: TJX), NetApp (Nasdaq: NTAP), Astro-Med (Nasdaq: A LOT), Autozone (NYSE: AZO), Charm Communications (Nasdaq: CHRM), China Digital TV (NYSE: STV), China Distance Education (NYSE: DL), China Techfaith Wireless (Nasdaq: CNTF), Compuware (Nasdaq: CPWR), Concord Medical Services (NYSE: CCM), Diana Containerships (Nasdaq: DCIX), Dick’s Sporting Goods (NYSE: DKS), Dycom (NYSE: DY), Fuwei Films (Nasdaq: FFHL), GigaMedia (Nasdaq: GIGM), Intuit (Nasdaq: INTU), KongZhong (Nasdaq: KONG), Lakeland Industries (Nasdaq: LAKE), Monro Muffler (Nasdaq: MNRO), Multi-Color (Nasdaq: LABL), Navios Maritime (NYSE: NM), Red Robin Gourmet Burgers (Nasdaq: RRGB), Rexnord (NYSE: RXN), Saks (NYSE: SKS), Tidewater (NYSE: TDW), Universal (NYSE: UVV) and more.

Economic Events

The regular weekly retail same-store sales report of the International Council of Shopping Centers (ICSC) is the only economic report on tap for Tuesday. The report covering the period ending May 18 showed a week-to-week sales increase of 0.2%, following the 2.0% drop the week before. On a year-to-year basis, sales were higher by 3.1%, versus the 1.2% increase in the prior week.

St. Louis Fed Bank President Bullard will speak in Frankfurt on the economy and monetary policy. Dallas Federal Reserve Bank President Richard Fisher is scheduled to talk about the economies of the nation and Texas. New York Federal Reserve Bank President William Dudley will speak to the Japan Society of NY. St. Louis Fed President Bullard

Commodity Markets (9:40 AM ET)

WTI Crude	-0.2%
Brent Crude	-0.4%
NYMEX Natural Gas	+1.7%
RBOB Gasoline	-1.0%
Gold Spot	-1.9%
Silver Spot	-2.7%
COMEX Copper	+0.3%
CBOT Corn	-2.3%
CBOT Wheat	-1.4%
CBOT Soybeans	-0.3%
ICE Cocoa	+1.6%
ICE Sugar	-0.4%
ICE Orange Juice Conc.	-0.3%
CME Live Cattle	+0.4%

The House Agriculture Committee is having a hearing on “The Future of the CFTC: Market Perspectives.”

Overseas Markets

EUROPE	9:30 AM	ASIA/PACIFIC	CLOSE
EURO STOXX 50	-0.2%	NIKKEI 225	+0.1%
German DAX	+0.1%	Hang Seng	-0.5%
CAC 40	+0.1%	S&P/ASX 200	-0.6%
FTSE 100	+0.3%	Korean KOSPI	-0.1%
Greek ASE	-5.2%	BSE India SENSEX	-0.6%

Secretary of State John Kerry travels to the Middle East to speak with Israeli and Palestinian territory leaders.

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.