Wednesday, April 30, 2014

Morning Journal--David Stockman on our crumbling infrastructure

 News on Stocks in Our Portfolios
·         C.H. Robinson Worldwide (CHRW): Q1 EPS of $0.63 beats by $0.02.
·         Revenue of $3.14B (+5.0% Y/Y) misses by $40M.

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers were up 1.6% versus the prior week and up 3.1% on a year over year basis; Redbook Research reported month to date retail chain store sales down 0.3% versus the comparable period a month ago but up 3.8% versus the similar timeframe last year.

            The February Case Shiller home price index rose 0.8% versus expectations of up 0.7%.

            April consumer confidence came in at 82.3 versus estimates of 83.0.

                Weekly mortgage applications fell 5.9% while purchase applications dropped 4.0%.

            The ADP private payroll report showed a 220,000 increase in jobs versus forecasts of a 210,000 rise.

                First quarter GDP came in up 0.1% versus expectations of +1.1%; the price index was up 1.3% versus estimates of +1.7%.

   Other
           
Politics

  Domestic

David Stockman on our crumbling infrastructure (medium):

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