Morning Journal---Will amnesty help?

 News on Stocks in Our Portfolios

Brown-Forman misses by $0.07, misses on revenue

·         Brown-Forman (NYSE:BF.B): FQ2 EPS of $0.97 misses by $0.07.

·         Revenue of $1.14B (+5.6% Y/Y) misses by $10M

 

Economics

   This Week’s Data

            Third quarter nonfarm productivity rose 2.3% versus expectations of +2.4%; unit labor costs fell 1.0% versus estimates of -0.1%.

            The November ISM nonmanufacturing index came in at 59.3 versus forecasts of 57.3.

            http://www.calculatedriskblog.com/2014/12/ism-non-manufacturing-index-increased.html

                The latest Fed Beige Book was released yesterday and was generally upbeat with positive comments on consumer spending, employment, manufacturing and housing.

               

            Weekly jobless claims fell 17,000 versus consensus of down 18,000.

   Other

            EU producer prices plunge (medium):

            http://www.marketwatch.com/story/another-chart-piling-pressure-on-ecb-producer-prices-slide-most-in-a-year-2014-12-02

Politics

  Domestic

A closer look at amnesty (medium):

http://www.powerlineblog.com/archives/2014/12/how-will-amnesty-help-struggling-american-workers.php