Morning Journal--What the Chinese think of our shutdown

 News on Stocks in Our Portfolios

Johnson & Johnson beats by $0.04, beats on revenues

o                                                        Johnson & Johnson (JNJ): Q3 EPS of $1.36 beats by $0.04.

o                                                        Revenue of $17.6B (+3.1% Y/Y) beats by $0.19B.

|7:47 AM

· 

Coca-Cola misses by $0.01

o                                                        Coca-Cola (KO): Q3 EPS of $0.53 misses by $0.01.

o                                                        Revenue of $12.03B misses by $0.04B.

 |7:33 AM

Economics

   This Week’s Data

            The New York Fed’s October manufacturing index came in at 1.52 versus expectations of 7.0

   Other

            More analysis of QE (medium):

            http://www.zerohedge.com/news/2013-10-14/qe-best-unfair-and-worst-evil-policy

            Europe is recovering (short):

            http://scottgrannis.blogspot.com/2013/10/even-europe-is-recovering.html

            Understanding the debt limit (3 minute video):

            http://www.youtube.com/watch?v=Li0no7O9zmE

Politics

  Domestic

What the Chinese think of our government shutdown (hint: it is quite positive)

http://www.zerohedge.com/news/2013-10-14/guest-post-what-china-really-thinks-shutdown

  International War Against Radical Islam

            Meanwhile in Iraq (medium):

            http://www.zerohedge.com/news/2013-10-14/meanwhile-iraq