Mid-Day Recap: Mixed Reaction as Q2 GDP Drops 1%
Market reaction has been mixed since it was confirmed that second-quarter GDP contracted at a much slower pace than the in the prior quarter. The data suggests the recession is coming to an end, but the view ahead is far from clear and rosy. Although stock indexes look ready to end the week up more than 1%, following a huge 11% gain in the prior two weeks, the weekly gain is based on the advance seen yesterday, as stocks are roughly flat two hours into Friday’s session. ...(read more)
Written by Patrick McGee on July 31st, 2009 with no comments.
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