Morning Journal--What did Obama know and when did He know it?

News on Stocks in Our Portfolios

Cummins misses by $0.17, misses on revenues

·                                 Cummins (CMI): Q3 EPS of $1.94 misses by $0.17.

·                                 Revenue of $4.27B (+4% Y/Y) misses by $0.11B.

Occidental Petroleum beats by $0.09

·                                 Occidental Petroleum (OXY): Q3 EPS of $1.97 beats by $0.09.

·                                 Revenue of $6.45B beats by $0.06B.

 

Economics

   This Week’s Data

            September industrial production was up 0.6% versus expectations of +0.4%; capacity utilization came in at 78.3 versus estimates of 78.0.

            http://www.capitalspectator.com/archives/2013/10/industrial_outp.html#more

            September pending home sales fell 5.6% from its August reading.

            http://www.calculatedriskblog.com/2013/10/pending-home-sales-index-declines-56-in.html

            The October Dallas Fed business activity index was reported at 3.6 versus forecasts of 9.0; however, manufacturing remained strong.

            http://www.calculatedriskblog.com/2013/10/dallas-fed-texas-manufacturing-activity.html

                September producer price index fell 0.1% versus consensus of +0.2%; ex food and energy, it was up 0.1%, in line.

            September retail sales declined 0.1% versus expectations of being flat; ex autos and gasoline, the number was up 0.4% versus estimates of +0.3%.

   Other

            Abenomics one year later (medium):

            http://www.zerohedge.com/news/2013-10-28/abenomics-one-year-later

Politics

  Domestic

For those who missed the latest news on Obamacare.  Could this be part of a gift, that is, are we proving beyond a reasonable doubt that government is not the answer?

http://www.zerohedge.com/news/2013-10-29/obama-knew-most-americans-would-not-be-able-keep-their-existing-insurance-under-obam