Morning Journal-Biderman and Bianco on Fed policy

Economics

This Week’s Data

The April consumer price index came in unchanged, in line with expectations; core CPI rose 0.2% also as anticipated.

April retail sales were up 0.1%, in line with estimates; ex autos, they were up 0.1% versus forecasts of up 0.2%.

The May New York Fed manufacturing index soared to 17.09 versus expectations of 10.0 and 6.6 recorded in April.

Other

C&I loans continue to grow (short):
http://mjperry.blogspot.com/2012/05/commercial-loan-volume-back-to-2007.html

Biderman and Bianco on Fed policy (6 minute video):
http://www.zerohedge.com/news/biderman-and-bianco-bury-bernankes-bond-bull-market-backbone

Weekly update on gasoline prices (short):
http://advisorperspectives.com/dshort/updates/Gasoline-Update.php

Politics

Domestic

The left’s lament against Obama (medium):
http://www.nakedcapitalism.com/2012/05/barack-obama-the-great-deceiver.html

News on Stocks in Our Portfolios

More quarterly earnings per share reports:

Reported Expected

Home Depot $.65 $.65

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.