1) Brave pricing for an initial public offering: JD.com, the largest online direct direct sales company in China, priced 93.7 m shares at $19, above the $16—$18 price talk. Very brave, we'll see how the first day trading and follow through is.
The rest of the IPOs scheduled have not fared as well. SunEdison priced at the low end, while 21st Century Oncology postponed, as did First Foundation. Yikes!
According to Renaissance Capital, 7 Chinese IPOs have priced this year, and they popped an average of about 10 percent the first day. But the follow through has been weak, with an average decline of 1.1 percent.
2) Changes at the NYSE. Big Board CEO Duncan Niederauer announced he was leaving in August, to be replaced by current COO Tom Farley. This is a little sooner than expected: Niederauer had previously said he would stay through the end of 2014.
Goldman Sachs also announced they have sold their NYSE Designated Market Maker trading rights at the NYSE to IMC Financial Markets for an undisclosed amount. IMC is a big proprietary trader and market maker active in over 90 exchanges throughout the world.
3) Are consumers really spending more? Not necessarily. Households engaged in massive debt reduction right after the financial crisis, from 2008 through mid-2013. But according to the Fed's latest report on Household Debt and Credit, US consumers took on net new debt for the third consecutive quarter in the first quarter.
Credit Suisse, however, cautions against reading too much into this: "Both conclusions, while legitimate, are tempered by the fact that much of the increased debt taken on by households over the past year has been in the form of student loans provided by the federal government," the bank wrote recently. "And the pickup in net mortgage debt outstanding in recent quarters is due largely to reduced foreclosures and bank loan write-offs, as opposed to an increase in mortgage origination."
--By CNBC's Bob Pisani