Morning Journal--Why interest rates can't rise

News on Stocks in Our Portfolios

EOG Resources beats by $0.01, beats on revenue

·         EOG Resources (NYSE:EOG): Q3 EPS of $1.31 beats by $0.01.

·         Revenue of $5.12B (+44.6% Y/Y) beats by $790M

Oneok Partners EPS in-line, misses on revenue

·         Oneok Partners (NYSE:OKS): Q3 EPS of $0.63 in-line.

·         Revenue of $3.12B (-0.3% Y/Y) misses by $600M.

 

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers down 1.6% versus the prior week but up 1.8% on a year over year basis; Redbook Research reported month to date retail chain store sales up 0.2% versus the comparable timeframe last month and up 3.9% versus the similar timeframe a year ago.

            September factory orders fell 0.6% versus estimates of -0.7%.

            Weekly mortgage applications fell 2.6% but purchase applications were up 3.0%.

            The October ADP private payroll report showed a growth of 230,000 jobs, in line.

   Other

            Why interest rates can’t rise (medium):

            http://www.zerohedge.com/news/2014-11-04/interest-rates-cannot-rise-heres-why

Politics

  Domestic

The Fed’s ‘money for nothing’ policy has kept the ‘fracking’ market afloat.  That may be changing (medium):

http://www.nakedcapitalism.com/2014/11/federal-reserve-policy-keeps-fracking-bubble-afloat-may-change-soon.html

  International

            Is the Saudi oil pricing strategy now targeting the US? (medium):

            http://www.powerlineblog.com/archives/2014/11/our-friends-the-saudis.php