Morning Journal--American exceptionalism

News on Stocks in Our Portfolios

 

Exxon Mobil (XOM): Q3 EPS of $2.09 beats by $0.13.

Economics

   This Week’s Data

            The October Institute for Supply Management’s manufacturing index was reported at 51.7 versus expectations of 51.5.

            http://scottgrannis.blogspot.com/2012/11/manufacturing-doesnt-deteriorate-and.html

            The October Conference Board’s index of consumer confidence came in at 72.2 versus estimates of 74.0 and September’s reading of 70.3.

            September construction spending was up 0.6% in line with forecasts.

            http://scottgrannis.blogspot.com/2012/11/construction-spending-still-weak-but.html

                October nonfarm payrolls increased by 171,000 versus expectations of 125,000.

   Other

            Eurozone unemployment rates (short):

            http://www.ritholtz.com/blog/2012/11/eurozone-unemployment-rates-eu-11-6/

            If America was a corporation (medium):

            http://www.zerohedge.com/news/2012-11-01/usa-inc-part-2-if-america-were-corporation-it-would-be-broke-er

            Update on our budget deficit and national debt (short and not very sweet):

            http://www.zerohedge.com/news/2012-11-01/starting-bang-first-month-fiscal-2013-us-adds-195-billion-debt

Politics

  Domestic

Benghazi and the main stream media (medium):

http://www.nationalreview.com/author/56454/latest#

Clifford May on American exceptionalism (medium and today’s must read):

http://www.nationalreview.com/articles/332153/american-exceptionalism-and-its-discontents-clifford-d-may

  International War Against Radical Islam

            Here is some real news from Benghazi and it is not from the main stream media (medium):

            http://michellemalkin.com/2012/11/01/mid-august-cable-state-department-benghazi/