FT -

• US Dept of Agric - food inflation will surge in the 2nd half of this year as wholesale prices filter through the supply chain, affecting consumers
• This will fuel global concerns about rising inflation and the potential for destabilizating food riots in developing countries
• Investors may tell today's surveys they are bullish but US trading is at 2004 levels. There are good fundamental reasons to think shares are a poor medium-term bet. But exuberance remains pretty mild.

Bespoke

• Weight Watchers (WTW) was up 45% in one day on a very strong earnings report. NTRI also rose 8% that day. However, NTRI reported 5 days later, and was down almost 30% after the report. Keep this example in the back of your mind the next time you think about trading a stock based on news from one of its peers/competitors.