Wednesday, June 06, 2012

Morning Journal-The Wisconsin recall


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.