News on Stocks in Our Portfolios
More earnings reports:
Reported Expected
MSFT $.68 $.68
ALTR .57 .59
SLB .98 1.01
LLY 1.13 1.13
NUE .57 .51
PM 1.37 1.23
Economics
This Week’s Data
September leading economic indicators were up 0.2% versus expectations of up 0.3%.
September existing home sales were down 2.3% versus estimates of down 1.8%.
http://www.calculatedriskblog.com/2011/10/existing-home-sales-in-september-491.html
The October Philadelphia Fed general business index came in at +8.7 versus forecasts of -10.0.
http://www.calculatedriskblog.com/2011/10/philly-fed-survey-shows-expansion.html
Other
This is a very instructive article on the current positive data versus the ECRI prediction of a recession (medium):
http://www.marketwatch.com/story/whos-right-about-recession-wall-street-or-ecri-2011-10-20?link=MW_popular
Politics
Domestic
Some background on the Volcker rule (medium):
http://www.minyanville.com/businessmarkets/articles/Volcker-Rule-Goldman-Sachs-American-Bankers/10/19/2011/id/37433
Our next debt bubble (medium):
http://www.zerohedge.com/news/student-loan-bubble-exceed-1-trillion-its-going-create-generation-wage-slavery-and-another-taxp
International
Obama’s empty apologies (long):
http://www.nationalreview.com/articles/280467/obama-s-empty-apologetics-victor-davis-hanson
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