Economics
This Week’s Data
The International Council of Shopping Centers reported weekly sales of major retailers down 1.0% versus the prior week but up 3.2% versus the comparable figure a year ago; Redbook Research reported month to date retail chain store sales up 0.2% versus the similar timeframe last month and up 3.0% on a year over year basis.
March industrial production was unchanged versus expectations of a rise of 0.3%; capacity utilization came in at 78.6 in line with estimates.
http://scottgrannis.blogspot.com/2012/04/industrial-production-is-still-strong.html
http://www.capitalspectator.com/archives/2012/04/industrial_prod_3.html#more
Weekly mortgage applications rose 6.9%; however, purchase applications plunged 11.2%.
http://www.calculatedriskblog.com/2012/04/mba-mortgage-applications-decrease_18.html
Other
The problem with ‘bad’ money (medium):
http://money.msn.com/investing/a-new-era-of-bad-money-jubak.aspx
The latest from Van Hoisington and Lacy Hunt (medium):
http://advisorperspectives.com/commentaries/hois_41712.php
Politics
Domestic
Depression is a choice (medium and today’s must read):
http://www.interfluidity.com/v2/3212.html
Who gains from tax breaks (short):
http://www.ritholtz.com/blog/2012/04/tax-break-day/
News on Stocks in Our Portfolios
More earnings reports:
Reported Expected
WW Grainger $2.57 $2.52
Johnson & Johnson 1.41 1.34
Linear Technology .49 .42
Abbott Labs 1.03 1.00
Blackrock 3.16 3.02
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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