Morning Journal--Details of Abe's speech

 News on Stocks in Our Portfolios

 
Brown-Forman (BF.B) (BF.A): FQ4 EPS of $0.52 beats by $0.06. Revenue of $866M beats by $4.3M

Economics

   This Week’s Data

            First quarter productivity was revised to +0.5% from an expected +0.7%; unit labor costs were off 4.4% versus estimates of +0.5%, however, the prior report was revised from +0.5% to +11.8%.

            April factory orders rose 1.0% versus forecasts of +1.4%.

            The May Institute for Supply Management’s nonmanufacturing index came in at 53.7 versus an anticipated 53.8

            http://www.calculatedriskblog.com/2013/06/ism-non-manufacturing-index-indicates.html

            The latest Fed Beige Book reported pointed to a modest (versus moderate in the prior report) economic recovery and singled out real estate as a sector gaining strength (short):

            http://www.calculatedriskblog.com/2013/06/feds-beige-book-economic-activity.html

            Weekly jobless claims fell 11,000 versus forecasts of a 9,000 decline.

   Other

            ***over night, the ECB left EU interest rates unchanged.

Politics

  Domestic

  International

            Thursday morning humor (6 minute video):

            http://www.ritholtz.com/blog/2013/06/who-won-the-iraq-war/

            The GOP is just as guilty as Obama regarding our Middle East ‘policy’ (medium):

            http://www.nationalreview.com/article/349816/syria-john-mccains-next-libya-andrew-c-mccarthy

                Details of Abe’s Tuesday speech on growth  (medium):

            http://www.nakedcapitalism.com/2013/06/nikkei-disses-abenomics-part-3-falls-nearly-4.html

                More:

            http://www.zerohedge.com/news/2013-06-05/ubs-cio-warns-japanese-abegeddon-scenario