Tuesday, May 01, 2012

Morning Journal-The fiscal cliff may occur before 1/1/13


Economics
This Week’s Data


The April Chicago purchasing managers index came in at 56.2 versus expectations of 60.6.
http://www.calculatedriskblog.com/2012/04/chicago-pmi-declines-to-562.html

The April Dallas Fed’s manufacturing survey was reported at -3.4 versus estimates of +8.0 and March’s reading of +10.6.

Other

The fiscal cliff may occur before 1/1/13 (short):
http://www.ritholtz.com/blog/2012/04/is-the-fiscal-cliff-coming-before-the-election/

Money can buy happiness:
http://www.zerohedge.com/news/money-can-buy-happiness

Is the contract language of credit default swaps about to change (short):
http://www.zerohedge.com/news/isda-about-be-forced-cave

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


Politics
Domestic


Romney on bin Laden (medium):
http://campaign2012.washingtonexaminer.com/article/what-romney-said-about-bin-laden/507496

News on Stocks in Our Portfolios

More quarterly earnings per share reports:

Reported Expected

Emerson Electric $.74 $.80
Becton Dickinson 1.38 1.38


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.