Wednesday, September 28, 2011

Morning Journal 9/28/11


CNBC $1 million Challenge

The International Fund sold one half of its position in EWC

Dividend Growth: GLD, TGT, CME, IBM, SIAL,

High Yield: GLD, CATO, SNY, FII,

Aggressive Growth Portfolio: GLD, SEIC, LOW, APH,

International; GLD, EWC,

All In: GLD, CME, APH, MDVN (Medivation),


Economics

This Week’s Data


The International Council of Shopping Centers reported weekly sales of major retailers fell 0.2% versus the prior week but rose 2.7% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales down 0.1% versus the similar timeframe last month but up 4.2% on a year over year basis.

The Case Shiller July home price index improved modestly.

The September Conference Board’s index of consumer confidence came in at 45.4 versus estimates of 47.0 and August’s reading of 44.5.

Weekly mortgage applications rose 9.3%, while purchase applications were up 2.1%.
http://www.calculatedriskblog.com/2011/09/mba-mortgage-purchase-application-index_28.html

August durable goods orders fell 0.1% versus expectations of a 0.2% increase.

Other

Martin Feldstein on the EU’s problems (medium):
http://www.project-syndicate.org/commentary/feldstein40/English

ASA weekly staffing index (short):
http://mjperry.blogspot.com/2011/09/asa-staffing-index-reaches-ytd-high.html

For the pessimists. This is long but a very good read.
http://www.zerohedge.com/news/guest-post-its-long-hard-road

Politics

Domestic


Senator Pat Toomey on tax reform and the super committee (4 minute video):
http://www.clubforgrowth.org/perm/?postID=15572

Solyndra up date (short):
http://www.powerlineblog.com/archives/2011/09/solyndra-update.php

International

Is China really a currency manipulator? (short):
http://scottgrannis.blogspot.com/2011/09/china-is-not-currency-manipulator.html