Friday, August 1, 2014

Morning Journal--The disincentive to work

  News on Stocks in Our Portfolios
·         Procter & Gamble (NYSE:PG): FQ4 EPS of $0.95 beats by $0.04.
·         Revenue of $20.16B (-0.7% Y/Y) misses by $320M.

    • Exxon Mobil (NYSE:XOM): Q2 EPS of $2.05 beats by $0.19.
    • Revenue of $111.64B (+4.7% Y/Y) beats by $3.26B.

    • MasterCard (NYSE:MA): Q2 EPS of $0.80 beats by $0.03.
    • Revenue of $2.37B (+12.9% Y/Y) beats by $60M.
 
Economics

   This Week’s Data

            July Chicago PMI came in at 52.6 (anything over 50 shows growth) versus expectations of 63.2.

            July nonfarm payrolls rose 209,000 versus estimates of 233,000; unemployment slipped to 6.2% from 6.1%

            July personal spending was up 0.4%, in line; personal spending was up 0.4%, in line; the PCE deflator was up 0.2%, in line.

   Other

Politics

  Domestic

The disincentive to work (medium):

  International

            The latest from Gaza (medium):

            Russia and India in negotiations on currency pact (medium):


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