Economics
This Week’s Data
The International Council of Shopping Centers reported weekly sales of major retailers up 0.4% versus the prior week and up 2.8% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 3.1% on a year over year basis.
The May Institute for Supply Management’s nonmanufacturing index came in at 53.7 versus expectations of 53.5.
http://www.calculatedriskblog.com/2012/06/ism-non-manufacturing-index-indicates.html
Weekly mortgage applications rose 1.3% though purchase applications slipped 1.8%.
http://www.calculatedriskblog.com/2012/06/mba-refinance-activity-increases-as.html
First quarter productivity fell 0.9% versus estimates of down 0.8%; unit labor costs rose 1.3% versus forecasts of up 2.2%.
Other
More on the MF Global debacle (medium):
http://www.nakedcapitalism.com/2012/06/the-real-bombshell-in-the-mf-global-post-mortem.html
Politics
Domestic
My favorite liberal on the Wisconsin recall vote (short):
http://dailycaller.com/2012/06/05/notes-on-wisconsin/
And George Will (medium):
http://www.jewishworldreview.com/cols/will060212.php3
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.
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