Wednesday, April 16, 2014

Morning Journal--More confusion over Fed policy

News on Stocks in Our Portfolios

o    W.W. Grainger, Inc. (GWW): Q1 EPS of $3.07 beats by $0.11.
o    Revenue of $2.39B (+4.8% Y/Y) in-line.

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers down 0.3% versus the prior week but up 2.3% on a year over year basis; Redbook Research reported month to date retail chain store sales down 1.0% versus the comparable period last month but up 2.6% versus the similar timeframe a year ago.

            Weekly mortgage applications rose 4.3% while purchase applications were up 1.0%.

            March housing starts advanced 2.8% versus estimates of up 6.3%.

   Other
           
            A closer look at Monday’s March retail sales number (medium):

            The US economy in charts (medium):

            Adding to the confusion over Fed policy (short):

            And possibly this (short):

            Two measures of inflation (medium):

            And (short):

            Homebuilder sentiment declines (short):

Politics

  Domestic

Thought police (medium):

Statistical frauds (medium):

Quote of the day (short):

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