Thursday, November 30, 2006
Losses...what losses?
Monday’s losses have been erased with stocks seeing strong gains Wednesday. The Dow ended the session with a gain of 90.28 points to close at 12,226.73. The SPX added 12.76 points to 1,399.48.
We needed this bounce and we are nicely back in Green.
Lots of economic data yesterday. GDP grew more than anticipated in the third quater and the Fed Beige Book numbers continued to show moderate growth in the economy. This is what the markets wanted to hear as the data points to a soft landing for the economy and a slow down in inflation. One blip was in the housing market with new home sales falling 3.2 percent in October. However the feeling seems to be that though the housing sector has seen a sharp decline, it will not result in a hard landing for the US economy.
Lets hope so..
Until next time.
We needed this bounce and we are nicely back in Green.
Lots of economic data yesterday. GDP grew more than anticipated in the third quater and the Fed Beige Book numbers continued to show moderate growth in the economy. This is what the markets wanted to hear as the data points to a soft landing for the economy and a slow down in inflation. One blip was in the housing market with new home sales falling 3.2 percent in October. However the feeling seems to be that though the housing sector has seen a sharp decline, it will not result in a hard landing for the US economy.
Lets hope so..
Until next time.
# posted by Paul @ 5:17 AM 
