The markets kept their charge alive with the Dow up 72.35 or 0.57% at 12,763.31. The S& 500 was up 4.82 or 0.36% at 1,360.48. And the Nasdaq was up 2.65 or 0.09% at 2,872.53.
A poor Jobless Claims report (up 25,000 to 429,000, well above the consensus for 390K) and a less than expected GDP number (1.8% vs. the consensus for 2.0%) wasn't enough to derail the market today.
It was easier to put a better spin on the GDP than the Jobless Claims. The GDP showed the economy is clearly still growing. And some of the less than expected performance was due to a rise in imports (much of it energy) and less government spending (better there than the private sector). A further look at the internals showed personal spending was up, business spending was up, and inventory building was up. Key drivers for the economy.
All in all, the market seemed to see the same thing and trekked higher because of it, along with the help of a positive earnings season so far.
Tomorrow we'll get Personal Income and Outlays, the Employment Cost Index, Consumer Sentiment, and the Chicago Purchasing Managers Index. Not expecting too much to happen with these reports. But the Chicago PMI will be watched closely after today's lower than expected GDP.
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发表于 2011-4-28 20:46
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