Puerto Rico defaults; TTIP leaks; Ultra, Midstates, and Sports Authority go BK; Sell in May and take a vacation. Financial Review by Sinclair Noe for 05-02-2016   DOW + 117 = 17,891 SPX + 16 = 2081 NAS + 42 = 4817 10 Y + .05 = 1.86% OIL – 1.14 = 44.78 GOLD Puerto Rico’s governor said Sunday that he had ordered a debt moratorium, blocking a $422 million payment due today.  The US Congress continues to debate a legislative fix for Puerto Rico’s $70 billion debt load. The default ratchets up pressure on Congress to find a legislative solution for Puerto Rico, which owes another $1.9 billion of debt on July 1, including about $777 million in general obligation debt backed by its constitution. Meanwhile, Puerto Rico is battling the Zika virus, and hospitals and health clinics are forced to shut down because of debt. New York City has sent one million condoms to help combat the spread of the disease. There is some symbolism there.   The Institute for Supply Management (ISM) said its index of national factory activity fell to 50.8 from 51.8 the month before. A reading above 50 indicates expansion in the manufacturing sector and a reading below 50 indicates contraction. The employment index rose to 49.2 from 48.1 a month earlier. Expectations called for a reading of 49.0. New orders dropped to 55.8 from 58.3. The prices paid index rose to 59.0 from 51.5, compared to expectations of 52.0.   Construction spending increased ...