Wednesday, August 15, 2012
Morning Journal-Goldman lowers odds of QEIII
This Week’s Data
The International Council of Shopping Centers reported weekly sales of major retailers down 0.3% versus last week but up 3.6% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales down 0.3% versus the similar timeframe in July but up 1.8% on a year over year basis.
June business inventories rose 0.1% versus expectations of an increase of 0.2%; business sales were unchanged.
Weekly mortgage applications fell 4.5% while purchase applications declined 2.0%.
The July consumer price index was unchanged versus estimates of a 0.2% increase; ex food and energy, it was up 0.1% versus forecasts of up 0.2%.
The August New York Fed manufacturing index came in at -5.85 versus expectations of +7.0 and July’s reading of +7.39.
Update on the Citigroup Economic Surprise Index (short):
Goldman lowers expectations for QEIII (medium):
Standard Chartered settles for pennies on the dollar and no one goes to jail (medium):
News on Stocks in Our Portfolios
More quarterly earnings per share reports:
Staples $.18 $.22
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