Economics
This Week’s Data
The January Institute for Supply Management manufacturing index was reported at 54.1 versus expectations of 54.5 and December’s reading of 53.9.
http://scottgrannis.blogspot.com/2012/02/another-decent-manufacturing-report.html
December construction spending rose 1.5% versus estimates of a 0.5% increase.
http://scottgrannis.blogspot.com/2012/02/construction-begins-to-recover.html
January auto sales were strong.
Weekly jobless claims declined 10,000 versus forecasts of a 2,000 decrease.
http://www.calculatedriskblog.com/2012/02/weekly-initial-unemployment-claims.html
Fourth quarter nonfarm productivity rose 0.7% versus expectations of up0.6%; unit labor costs increased 1.2% versus estimates of up 0.4%.
Other
US manufacturing in 2011 (short):
http://mjperry.blogspot.com/2012/01/based-on-profits-manufacturing-is-alive.html
A contrarian view of the potential decline in the deficit/GDP ratio (medium):
http://pragcap.com/cbo-budget-deficit-to-drop-markedly-threatens-economic-stability
Rumors are that most of the MF Global money has been traced down. I can’t wait to see where it landed (short):
http://www.ritholtz.com/blog/2012/02/found-mfglobal-monies/
Politics
Domestic
A look inside the congressional budget office (medium):
http://www.zerohedge.com/news/cbo-merely-another-manipulated-front-wall-street-dictate-washington-policy
US government debt continues to spike (medium):
http://www.zerohedge.com/news/us-adds-120-billion-debt-debt-ceiling-hike-friday-310-billion-more-deck-next-two-months
News on Stocks in Our Portfolios
More earnings per share reports:
Reported Expected
Franklin Resources $2.20 $2.09
Qualcomm .97 .90
CME Group 3.55 3.72
Marathon Oil .78 .85
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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