Morning Journal--Thoughts on the Zimmerman trial

News on Stocks in Our Portfolios

 
Johnson & Johnson (JNJ): Q2 EPS of $1.48 beats by $0.09. Revenue of $17.88B beats by $0.17B.

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers  down 1.1%, versus the prior week but up 1.7% versus the comparable period a year ago;  Redbook Research reported month to date retail chain store sales up 0.8% versus the similar timeframe in June and up 3.0% on a year over year basis.

            June industrial production rose 0.3% versus expectations of up 0.2%; capacity utilization  came in at 77.8 versus estimates of 77.7.

            http://www.aei-ideas.org/2013/07/durable-manufacturing-motor-vehicle-and-parts-production-and-oil-and-gas-extraction-all-reached-record-highs-in-june/

            The NAHB Home Builders Market Index rose to 57.0 versus forecasts of 51.0.

            http://scottgrannis.blogspot.com/2013/07/housing-outlook-still-positive.html

            Weekly mortgage applications fell 2.6% but purchase applications rose 1.0%.

            http://www.calculatedriskblog.com/2013/07/mba-mortgage-purchase-applications.html

            June housing starts plunged 9.9% versus expectations of a 4.0% increase.

   Other

            The single most important change that you can make to your work habits (short):

            http://www.farnamstreetblog.com/2013/05/the-single-most-important-change-you-can-make-in-your-working-habits/

            A different take on household income (medium):

            http://www.zerohedge.com/news/2013-07-16/guest-post-about-incomes-are-rising-claim

            EU auto sales (short):

            http://www.bespokeinvest.com/thinkbig/2013/7/16/us-and-european-auto-sales-are-oceans-apart.html

Politics

  Domestic

The hubris of bureaucrats (medium):

http://www.zerohedge.com/news/2013-07-16/bearmageddon-and-moar-same-policies-havent-worked

Thomas Sowell on the Zimmerman trial (medium):

http://townhall.com/columnists/thomassowell/2013/07/16/is-this-still-america-n1640987

Your Attorney General on the Zimmerman trial (medium):

http://www.zerohedge.com/news/2013-07-16/eric-holder-slams-stand-your-ground-laws-claims-self-defense-may-sow-dangerous-confl

  International

            Obama and sovereign immunity (medium):

            http://www.zerohedge.com/news/2013-07-16/obama-administrations-entry-sovereign-restructurings-about-unleash-havoc

            Israel allows Egyptian army to enter Sinai (short):

            http://www.zerohedge.com/news/2013-07-16/israel-allows-2-egyptian-battalions-sinai-amid-daily-militant-attacks

                More bad news out of Italy (short):

            http://www.zerohedge.com/news/2013-07-16/spot-when-central-planning-took-over