Economics
This Week’s Data
The International Council of Shopping Centers reported weekly sales of major retailer fell 1.4% versus the prior week but rose 2.8% versus the comparable period in 2011; Redbook Research reported month to date retail chain store sales dropped 1.6% versus the similar time frame in December but increased 2.5% on a year over year basis.
Weekly mortgage applications fell 5.0% while purchase applications dropped 5.4%.
Other
The US inches closer to a European moment (medium):
http://money.cnn.com/2012/01/24/markets/thebuzz/index.htm?iid=HP_LN
MIT data show inflation declining at year end (short):
http://mjperry.blogspot.com/2012/01/ppmit-data-show-inflation-moderating-at.html
Truck tonnage continues strong (short):
http://scottgrannis.blogspot.com/2012/01/truck-tonnage-is-very-impressive.html
Politics
Domestic
The Club for Growth on Romney and Gingrich (3 minute video):
http://www.clubforgrowth.org/perm/?postID=15730
News on Stocks in Our Portfolios
More earnings per share reports:
Reported Expected
Canadian Nat’l RR $1.30 $1.26
Peabody Energy .93 1.32
Praxair 1.36 1.37
General Dynamics 1.68 1.99
United Technologies 1.47 1.46
Total System Services ,31 .31
UGI .77 .97
Abbott Labs 1.54 1.44
Automatic Data Processing .68 .68
Boeing 1.32 1.01
Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 40 years of investment experience includes institutional portfolio management at Scudder, Stevens and Clark and Bear Stearns. Steve's goal at Strategic Stock Investments is to help other investors build wealth and benefit from the investing lessons he learned the hard way.
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