Economics
This Week’s Data
The International Council of Shopping Centers reported weekly sales of major retailers fell 1.0% versus the prior week but rose 2.7% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 1.6% versus the similar timeframe a month ago and up 3.4% on a year over year basis.
The January Case Shiller home price index decline 0.5% versus expectations of a decrease of 0.4%.
http://scottgrannis.blogspot.com/2012/02/housing-prices-were-still-weak-late.html
The Conference Board’s February index of consumer confidence came in at 70.8 versus estimates of 64.9.
http://advisorperspectives.com/dshort/updates/Conference-Board-Consumer-Confidence-Index.php
The Richmond Fed’s February manufacturing index was reported a 20.0 versus expectations of 13.0.
http://mjperry.blogspot.com/2012/02/richmond-and-dallas-fed-report.html
Weekly mortgage applications fell 0.3% but purchase applications soared 8.2%.
http://www.calculatedriskblog.com/2012/02/misc-purchase-mortgage-applications.html
Fourth quarter GDP came in up 3.0%, slightly better than the 2.8% that was anticipated; the GDP deflator was up 0.9% versus expectations of up 0.4%.
Politics
Domestic
A shelf life for legislation? (medium):
http://advisorperspectives.com/dshort/guest/AI-120228-Commonsense-is-not-so-Common.php
International
And you think Greece has problems? Take a look at Japan (medium):
http://advisorperspectives.com/commentaries/euro_22212.php
News on Stocks in Our Portfolios
More earnings per share reports:
Reported Expected
Ecolabs $.70 $.70
Staples .41 .41
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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