Economics
This Week’s Data
June new home sales fell 8.3% versus expectations of a 1.6% increase.
http://www.calculatedriskblog.com/2012/07/new-home-sales-declined-in-june-to.html
Weekly jobless claims fell 33,000 versus estimates of a 6,000 decline; seasonal adjustments continue to heavily influence these numbers.
http://www.calculatedriskblog.com/2012/07/weekly-initial-unemployment-claims_26.html
June durable goods orders rose 1.6% versus forecasts of up 0.6%; however, ex transportation orders, they dropped 1.1% versus an anticipated increase of 0.2%.
Domestic
What caused the $12 trillion budget shortfall (medium):
http://www.realclearmarkets.com/articles/2012/07/25/who_caused_the_12_trillion_budget_blunder_99785.html
Geithner is up to his ears in the Libor scandal (short):
http://www.powerlineblog.com/archives/2012/07/time-to-tear-down-that-statue-of-tim-geithner.php
International War Against Radical Islam
Deception in the state department (medium):
http://www.nationalreview.com/articles/312211/huma-abedin-s-muslim-brotherhood-ties-andrew-c-mccarthy
Analysis of international hotspots from Stratfor (two 4 minute videos):
http://www.zerohedge.com/news/spot-naval-hot-zone
News on Stocks in Our Portfolios
More quarterly earnings per share reports:
Reported Expected
Canadian Pacific RR $1.50 $1.46
T Rowe Price .79 .81
Suncor C.81 C.72
ConocoPhillips 1.22 1.29
CR Bard 1.62 1.63
3M 1.65 1.66
Colgate Palmolive 1.30 1.33
Sanofi Aventis E1.46 E1.37
CMI Group .74 .83
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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