In The News:
Upgrade, Please.. S&P revised its outlook for US Sovereign debt from negative to stable siting a receding of fiscal risks. Presently, the US ratings is AA+.
Introducing… Apple made a couple of intro’s Monday at its developer’s conference. Meet the new Apple innovation world:
- iTunes radio, a non- subscription streaming music service.
- A new version of MAC OS called Mavericks
- New Mac Air laptop with all day battery life.
- A hint about the news iOS biggest changed for mobile since iPhone
China Weakness- Over the weekend China announced its CPI (Consumer Price Index) had risen +2.1 vs. 2.5 expected and PPI (Producers Price Index) fell -2.9 vs. -2.5 expected. Both sets of data paint a picture of a slower growth environment in China causing many to worry if China will hit its 7% GDP target for the year.
McDonald’s lookin finger lickin good.. The month of May saw McDonald’s same store sales up 2.6% beating analyst estimates. Why this is important: McDonald is bell weather aka a gauge for the lower and middle class. If the two classes are doing ok and have a” little money in their pocket “they will go by a couple cheeseburgers and if they don’t have a little extra money sales go down. McDonald’s also took the happy occasion to announce they will be rolling out an “After Midnight Menu” which will include all your tasty favorite breakfast ideas from 12am- 4am in selected stores and markets. Hmm a happy meal sounds good right about now…
As Sprint Turns… if you haven’t been keeping up with the soap opera with Sprint in the last couple weeks here is a recap of the most recent developments:
Scene 1#- Ontario’s Teachers Pension Plan came out and said they would vote to approve Softbank’s $20.1 Billion bid.
Scene 2#- Softbank is now in talks with Deutsche Telekom about a potential sale of T-Mobile USA if the Sprint deal fails.
Scene 3#- Dish, who’s bid of $25.5 Billion is still on the table, feel their bid is economically and strategically superior to Soft Bank and they are still talking to Sprint.
In The Markets:
Asia: Asian markets closed in the green as the weaker Yen caused investors to buy more exporters and raise hope pension funds will want to start buying more stocks. Mainland China markets are closed for the next three days for public holiday.
Nikkei 636.67 13514.20 Hang Seng +39.83 21615.09
Europe: European markets closed down as investor digest a weaker growth picture from China.
US: US markets closed flat taking a rest break from the swings of last week. Investors need some time to digest weaker than expected China data, Apple intro of new products, and the S&P upgrade.
DJIA: -11.60 15236.52 S&P: 0.67 1642.71 NASDAQ: +4.55 3473.77
In Dinner or Drink:
We choose dinner to celebrate Apple’s new introductions to it’s family.
Pork Chops with Apples and Garlic Smashed Potato’s
What you will need:
1 pound small fingerling potatoes
2 cloves garlic
4 1/2-inch-thick boneless pork loin chops (5 ounces each)
2 teaspoons chopped fresh sage
Freshly ground pepper
1 tablespoon extra-virgin olive oil
1 large red onion, cut into 1/2-inch wedges
2 Granny Smith apples, cut into 1/2-inch pieces
3/4 cup apple cider
1/4 cup buttermilk
Put the potatoes and garlic in a saucepan, cover with cold water and season with salt. Cover and bring to a boil, then uncover and continue cooking until tender, about 15 minutes. Cover and set aside.
Meanwhile, rub both sides of the pork chops with the sage, and salt and pepper to taste. Heat a large cast-iron skillet over high heat, then add 1 teaspoon olive oil and sear the chops until golden on both sides, about 5 minutes total. Transfer to a plate. Wipe out the skillet and add the remaining 2 teaspoons olive oil. Add the onion and apples and cook over medium-high heat until lightly browned, about 5 minutes. Season with salt and pepper and stir in the cider.
Return the chops to the skillet. Cover and cook, turning once, until just cooked through, 4 to 5 minutes. Drain the potatoes, reserving 1/4 cup liquid. Return the potatoes to the pan; add the buttermilk and mash, adding cooking liquid as needed. Season with salt and pepper. Serve with the pork chops, onion and apples. Drizzle with the pan juices.