Thursday, October 13, 2011

Morning Journal 10/12/11

News on Stocks in Our Portfolios

Pepsico reported third quarter earnings per share of $1.31 versus expectations of $1.29.


This Week’s Data

Weekly jobless claims were up 3,000 versus expectations of up 4,000.

The US August trade deficit came in at $45.6 billion versus estimates of $45.9 billion.


China lowers the valuation of the yuan in response to the senate’s passage of the China currency manipulation bill (short):

The Pulse of Commerce index supports the recent ECRI recession call; but it does not square with the trucking tonnage data. One of these two indicators will have to reverse sooner or later:



Rich Lowery on not being a politician (medium):

Why running massive budget deficits won’t help the private sector ‘deleverage’ (medium):

Nor improve the prospects for economic growth (medium):


What Ireland and Iceland taught us (short):

A new bogey man (medium):