Thursday, March 21, 2013

Morning Journal--lower government spending = more growth

  News on Stocks in Our Portfolios courtesy of Seeking Alpha

General Mills (GIS): FQ3 EPS of $0.64 beats by $0.07. Revenue of $4.43B (+8% Y/Y) beats by $0.07B.
 
Economics

   This Week’s Data

            Weekly mortgage applications fell 7.1% while purchase applications dropped 4.0%.

            The FOMC met Tuesday and yesterday.  The language in the Fed statement subsequently released and press conference didn’t really change much from prior policy statements---though it was ever so slightly more positive.  Here is the red lined statement:

            And FOMC economic projections (medium):

            Weekly jobless claims rose 2,000 versus expectations of an 8,000 increase.

   Other

            How decreased government spending improves the economy (short):

            Household finances continue to improve (short):

            Architectural billings are up (short):

Politics

  Domestic

More crony capitalism (medium):

  International

            The dangers of a Chinese financial crisis (medium):


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