Morning Journal-Citi US Macro Index turns negative

 News on Stocks in Our Portfolios

 

Johnson & Johnson (JNJ): Q4 EPS of $1.19 beats by $0.02. Revenue of $17.6B (+8% Y/Y) misses by $0.07B.

Economics

   This Week’s Data

            December existing home sales fell 0.2% versus forecasts of a 0.1% decline.

            The January Richmond Fed manufacturing index was reported at -12 versus expectations of +5.

   Other

            Citi US Macro Index turns negative (short):

            http://www.zerohedge.com/news/2013-01-22/us-macro-turns-negative-worst-almost-5-months

Politics

  Domestic

The bad news on Jack Lew (medium):

http://www.nypost.com/p/news/opinion/opedcolumnists/jack_lew_bad_news_for_the_us_economy_PD4UFeh3VzI3AfTBbeONNP

Administrative bloat in our public schools (short/medium):

http://www.aei-ideas.org/2013/01/chart-of-the-day-public-schools-bloated-with-bureaucracy/

Obama’s defense of an activist government (medium):

http://www.weeklystandard.com/blogs/obamas-impassioned-defense-activist-government_697413.html

George Will on Obamacare (medium):

http://www.jewishworldreview.com/cols/will011913.php3

            Nebraska governor approves alternate Keystone XL pipeline route (medium):

            http://www.zerohedge.com/news/2013-01-22/nebraska-governor-appoves-alternative-route-keystone-xl-pipeline-will-buffettobama-g

  International War Against Radical Islam

            Now we are giving money to the French (short):

            http://www.zerohedge.com/news/2013-01-22/us-taxpayers-pick-tab-us-military-missions-mali-assisting-french