Wednesday, June 27, 2012

Morning Journal-Santelli and Taylor on Hayek


This Week’s Data

The International Council of Shopping Centers reported weekly sales of major retailer up 2.0 versus the prior week and up 2.7% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 2.3% on a year over year basis.

The April Case Shiller home price index rose 0.7% versus expectations of +0.4%.

The June Conference Board index of consumer confidence came in at 62.0 versus estimates of 63.0.

The June Richmond Fed’s manufacturing index was down 3.0% versus forecasts of an increase of 5.0%

Weekly mortgage applications fell 7.0% while purchase applications were down 1.0%

May durable goods orders rose 1.1% versus expectations of +0.4%; however, April’s number was revised from +0.2% to -0.2%. Ex transportation, orders were up 0.4% versus estimates of up 0.8%.


Comparing the ECRI Weekly Index with the Conference Board’s Leading Economic Index (medium):

A new look at the federal budget (deficit):

The chemical activity barometer (short):

Rick Santelli and John Taylor on Hayek (4 minute video):

Why the economy is growing at a below average secular rate and will continue to do so unless we change our growth model (medium):



The Arizona decision (medium):

International War Against Radical Islam

Obama’s search for a ‘win, win’ in Egypt (medium):

The latest from Turkey/Syria (medium):

News on Stocks in Our Portfolios

General Mills reported its fourth fiscal quarter earnings per share of $.60 versus estimates of $.59.

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.