Friday, May 2, 2014

Morning Journal---Is China really passing the US as world's largest economic power?

   News on Stocks in Our Portfolios
·         Exxon Mobil (XOM): Q1 EPS of $2.10 beats by $0.22.
·         Revenue of $106.77B (-1.4% Y/Y) misses by $2.99B.

Economics

   This Week’s Data

            The April ISM manufacturing index came in at 54.9 versus expectations of 54.3.

            The April Markit PMI was reported at 55.4 versus estimates of 55.

            March construction spending was up 0.2% versus forecasts of up 0.6%; the February number was revised down from +0.1% to -0.2%

                April vehicle sales (12.8 million units) were in line.

                April nonfarm payrolls rose 288,000 versus consensus of 218,000; unemployment came in at 6.3% versus an anticipated rate of 6.5%.

   Other

            Thoughts on the recent Financial Times article on China passing the US as the world’s leading economic power (medium):

Politics

  Domestic

Healthcare facts (medium):

Quote of the day (short_:

 

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