Lost in the Obamacare vote news was the 1.9% GDP rate in the first quarter. $$
The economy just slugs on. It's much slower than it needs to be. There doesn't seem to be any catalysts out there other than the status quo. Is the status quo a catalyst?
I think the gap down and most of the day was because of poor economic news. Even if the market bounced in a big way after the Euro-Zone accord news. (And looks like it will open big on Friday, too).
Also remember that this is the end of the quarter and month, so there could be some market strength as the big money positions portfolios for quarter-end reports.
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Economy Expands at 1.9% Clip in First Quarter
FOX BUSINESS | JUNE 28, 2012
http://pulse.me/s/aIUVu
The U.S. economy slowed as expected in the first quarter, but a less robust pace of consumer spending and export growth than previously estimated cou... Read more
--
Sent via Pulse
Economy Expands at 1.9% Clip in First Quarter
FOX BUSINESS | JUNE 28, 2012
http://pulse.me/s/aIUVu
The U.S. economy slowed as expected in the first quarter, but a less robust pace of consumer spending and export growth than previously estimated cou... Read more
--
Sent via Pulse
