QUICK OVERVIEW

• Berkshire Hathaway Warren Buffett's company said Friday its first-quarter profit more than doubled.

• Euro-zone unemployment rose to a new 15-year high of 10.9% U.S. factory orders fell 1.5% in March

• Steve Wozniak, a co-founder of Apple, describes the Nokia Lumia screen as "much more beautiful" than that of the iPhone and Android phones.   ( Comparison )

• Australia cuts interest rate by larger-than-expected half-point to 3.75%

• Indonesia’s Inflation Accelerates to Seven-Month High of 4.5%

• U.S Crude oil stocks rose 2.8 million barrels in the week ending April 27.
• Gasoline stocks fell 2.0 million barrels.
• Distillate stocks fell 1.9 million barrels.

• Bloomberg: The U.S. homeownership rate fell to the lowest level in 15 years in the first quarter as borrowers lost homes to foreclosure and tighter inventory and credit kept buyers off the market. The rate dropped to 65.4 percent from 66 percent in the fourth quarter and fell a full percentage point from a year earlier, the Census Bureau said in a report . That is the lowest level since the first quarter of 1997, and down from a record 69.2 percent in June 2004.

• The CME announced, that beginning May 13 for trade date May 14, customers will have expanded access to CBOT corn, soybeans, wheat, soybean meal and soybean oil futures and options on CME. Globex as follows: •Sunday to Monday, 5:00 p.m. to 4:00 p.m. CT •Monday to Friday, 6:00 p.m. to 4:00 p.m. CT. (Hell, they could lose 5 cents to the ICE) Change in plans (CME f/u) will be delayed by one week to May 21.

• “The Scream" sells for record $119.9 million at Sotheby's auction, far exceeding $80 million estimate. ( Somebody is smiling )

• In reference to Mr. Obama’s remarks regarding speculators. "People need to study their facts before criticizing speculators," said Mr. Duffy, whose Chicago Company is the largest futures exchange, said in an interview. He pointed out “correctly” that speculators provide vital liquidity to a host of markets.

• AIG net income rose to $3.2 billion, or $1.71 a share, in the three months that ended March 31.

• (Guardian) seven in ten Americans now believe that "global warming is affecting the weather." 35 % of the respondents reported that extreme weather had affected them personally in 2011.

• Japan's last active reactor has shut down, leaving the country without nuclear energy for the first time since 1970. All 50 commercial reactors in the country are now offline. LNG Heading for Asia?