By Maxine Shapiro, KERA 90.1 business commentator
Dallas, TX – It's Friday so "It's Only Money," a review of the big and not-so-big stories of the week. I'm Maxine Shapiro with KERA Marketplace Midday.
Don't think there's a person on this planet right now who could make sense of all the conflicting economic data that was released this week. Retail sales were down; consumer confidence was surprisingly up. Housing starts were lower than expected, but housing permits - a reflection of what's to come - were higher then expected. The trade deficit grew to the second-highest level on record, yet the weaker dollar is suppose to help exports, which would bring in the deficit. But there are two figures that are undeniably linked. Producer Price Index and consumer prices both dropped last month, adding merit to the fear of deflation. Without falling energy and food prices, consumer prices were flat from March. Aren't you glad we can just go about our day, without trying to figure this out? This is why I like hindsight.
Nothing conflicting about the news for McDonald's this week - sales were up, and it's crediting the intro of their new salads. A cheap, healthy meal - I knew it would work.
If you're one of the two Kathie Lee Gifford fans out there, I have some disappointing news: Wal-Mart is discontinuing her clothing line. It's been three years since the controversial investigation of her factories in Honduras. She, of course, redeemed herself by vigorously campaigning against sweetshops that employs children. Hey, if Kmart ever discontinues Martha, maybe she can move over there.
No revelation here: "The Matrix: Reloaded" scored the biggest opening day on record. Will the $42.5million made yesterday help AOL/Time Warner, parent of Warner Brothers, ward off the angry stockholder at today's meeting? Doubt it.
And imagine, a Texas Western Conference NBA final! That could be good for our economy.
For KERA Marketplace Midday, I'm Maxine Shapiro.
Marketplace Midday Reports air on KERA 90.1 Monday - Friday at 1:04 p.m.
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