Wednesday, February 29, 2012

Morning Journal - Greece is nothing compared to Japan

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%.

The Conference Board’s February index of consumer confidence came in at 70.8 versus estimates of 64.9.

The Richmond Fed’s February manufacturing index was reported a 20.0 versus expectations of 13.0.

Weekly mortgage applications fell 0.3% but purchase applications soared 8.2%.

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%.



A shelf life for legislation? (medium):


And you think Greece has problems? Take a look at Japan (medium):

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.