Wednesday, November 02, 2011

Morning Journal Satyajit Das on the European 'plan'


News on Stocks in Our Portfolios

More earnings reports:

Reported Expected

EOG $.83 $.76
CF 4.73 4.79
EXPD .00 .48
EMR .98 .96
MRO .59 .85
CME 4.74 4.64

Economics


This Week’s Data

The International Council of Shopping Centers reported weekly sales of major retailers up 0.7% versus the prior week and up 3.0% versus the comparable period last year: Redbook Research reported month to date retail chain store sales down 0.6% versus the similar time frame a month ago but up 5.2% on a year over year basis,

The October Institute for Supply Management’s manufacturing index came in at 50.8 versus expectations of 52.0 and 51.6 recorded in September.
http://scottgrannis.blogspot.com/2011/11/ism-index-points-to-continued-moderate.html

September construction spending rose 0.2% versus estimates of a 0.4% increase.
http://scottgrannis.blogspot.com/2011/11/construction-spending-remains-in.html

September auto sales rose 7%.
http://scottgrannis.blogspot.com/2011/11/auto-sales-still-strong.html

Weekly mortgage applications rose 0.2% while purchase applications were upp 1.8%.
http://www.calculatedriskblog.com/2011/11/mba-mortgage-purchase-application-index.html

Private employment rose 110,000 in October, slightly better than expected.
http://www.calculatedriskblog.com/2011/11/adp-private-employment-increased-110000.html

Other

Great news on oil imports (short):
http://mjperry.blogspot.com/2011/10/pendulum-swings-on-american-oil.html

Politics

Domestic


Another green ‘investment goes toes up:
http://michellemalkin.com/2011/10/31/doj-loan-bankrupt/

Thoughts on our ‘crumbling’ infrastructure (medium):
http://www.washingtonpost.com/opinions/the-us-infrastructure-argument-that-crumbles-upon-examination/2011/10/31/gIQAnILRaM_story.html

International

Satyajit Das on the Euro ‘plan’ (medium):
http://www.nakedcapitalism.com/2011/11/satyajit-das-europe%E2%80%99s-plan-to-end-the-debt-crisis-%E2%80%93-putting-the-con-in-confidence-part-1.html