News on Stocks in Our Portfolios
Cato beats by $0.03, misses on revenues
Hormel Foods misses by $0.03, beats on revenues
Emerson enjoys orders growth
This Week’s Data
July existing home sales rose 6.5% versus expectations of an increase of 1.3%.
The minutes from the last FOMC meeting were released. They revealed a Fed that (1) was a bit more pessimistic about the economy and inflation, (2) split over ‘tapering’, (3) but everyone seemed comfortable with the ‘data dependent’ conditionality of ‘tapering’. Bottom line: no clear agreement of the timing of ‘tapering’. Hilsenrath’s official take:
Weekly jobless claims rose 13,000 versus estimates of a 9,000 increase.
Real household income, four years into a ‘recovery’ (medium and today’s must read):
International War Against Radical Islam
US dilemma in Egypt