Thursday, May 03, 2012

Morning Journal-A closer look at the recent Chinese PMI number

This Week’s Data

The April ADP private payroll report showed an increase of 119,000 jobs versus expectations of a rise of 183,000.

March factory orders fell 1.5%, in line with estimates.

Weekly jobless claims fell 23,000 versus forecasts of a drop of 10,000.

Fourth quarter productivity declined 0.5% versus expectations of a 0.4% decrease; unit labor costs advanced 2.0% versus estimates of a 2.5% increase.


The bear case for the economy from Mort Zuckerman (7 minute video):

Co-starring Martin Feldstein (4 minute video):

And Lance Roberts (medium):



The reality of voter fraud (medium):

More shenanigans from our political class (medium):

Class warfare has its costs (medium):


Some analysis of the recent PMI data out of China (medium):

News on Stocks in Our Portfolios

Pepsico raised its annual dividend per share from $2.06 to $2.15.

More quarterly earnings per share reports:

Reported Expected

Expeditors Int’l $.36 $.38
Murphy Oil 1.49 1.46

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.