Wednesday, November 30, 2011

Morning Journal Don't forget, the US has a sovereign debt problem

News on Stocks in Our Portfolios

Tiffany’s reported its latest quarterly earnings per share of $.70 versus expectations of $.60. However, it gave down beat guidance for next year.


This Week’s Data

The International Council of Shopping Centers reported weekly sales of major retailers up 1.7% versus the prior week and up 4.0% versus the comparable period last year; Redbook Research reported month to date retail chain store sales up 5.4% on a year over year basis.

The Case Shiller September home price index fell 0.6% versus expectations of down 0.1%.

The Conference Board’s November index of consumer confidence came in at 56.0 versus estimates of 44.9 and October’s reading of 39.8.

Weekly mortgage applications dropped 11.7%, while purchase applications declined 0.8%. Both were impacted by the Thanksgiving holiday.

The ADP private payroll report was up 206,000 jobs versus expectations of an increase of 125,000.

Revised third quarter productivity came in up 2.3% versus estimates of up 2,5%; unit labor costs declined 2.5% versus forecasts of a decrease of 2,2%.


Lest we forget, the US has its own debt crisis (medium):



The SEC gets knocked down again (medium):