Bad news is no longer good news for stocks ...Middle East

Before the May retail sales report, I wrote about how the metric I would be watching most-closely wasn't the control group, but the market. We've been a bad-news-is-good-news regime for the past 18 months but evidence has been mounting that the market is beginning to see the Fed as behind the curve.That will ignite a kicking-and-screaming phase on bad news and today's retail sales report shows we're getting closer.Equity futures so far are modestly below pre-data levels after a jump on the data was quickly faded.Overall, I'd say this shows more of a standstill or a transition than a regime change but it looks like we're headed in that direction , particularly if that data continues to disapp

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