This Week’s Data
The International Council of Shopping Centers reported weekly sales of major retailers flat versus the prior week but up 2.6% versus the comparable period last year; Redbook Research reported month to date retail chain store sales up 1.7% versus the similar timeframe the prior month but down 1.1% on a year over year basis.
June industrial production rose 0.4% in line with expectations while capacity utilization came in at 78.9 versus estimates of 79.2,
The June consumer price index was reported unchanged versus forecasts of +0.1%; core CPI was up 0.2% as anticipated.
Weekly mortgage applications soared 16.9% but purchase applications were down 0.1%.
June housing starts rose 0.7% versus expectations of a 0.5% increase; building permits fell 0.4%, in line with estimates.
Builder confidence continues to rise (short):
The case for inflation (medium):
We are all in this together (medium):
Hope, change and youth (medium):
Defective government by design (medium and today’s must read):
Capitalism versus cronyism (2 minute video):
An inside look at inflation (medium):
News on Stocks in Our Portfolios
More earnings per share reports:
Johnson & Johnson $1.30 $1.29
Schwab .20 .17
Blackrock 3.10 3.03
Strategic Stock Investments is to help other investors build wealth and benefit from the investing lessons he learned the hard way.