This Week’s Data
The International Council of Shopping Centers reported weekly sales of major retailers down 0.3% versus the prior week but up 4.2% versus the comparable period lat year; Redbook Research reported month to date retail chain store sales up 3.2% versus the similar timeframe last month and up 2.9% on a year over year basis.
The April Institute for Supply Management’s manufacturing index came in at 54.8 versus expectations of 53.0.
March construction spending rose 0.1% versus estimates of a 0.5% increase.
April auto sales were up 2.5%, in line with forecasts.
Weekly mortgage applications advanced 0.1% while purchase applications were up 2.9%.
Private sector job growth continues to improve (short):
An interesting debate between Ron Paul and Paul Krugman (13 minute video):
The bull case on the economy (medium):
Another round of food inflation? (short):
Thoughts on the War on Women (medium):
The Employee Free Choice Act---not. (medium):
End too big to fail---from the Dallas Fed (just read the summary):
News on Stocks in Our Portfolios
More quarterly earnings per share reports:
Automatic Data Processing $.92 $.91
Ecolabs .50 .48
Mastercard 5.36 5.27
Strategic Stock Investments is to help other investors build wealth and benefit from the investing lessons he learned the hard way.