(As of 7:25 am PST)
All 3 major US indexes are higher today with another
upbeat economic report fueling investor optimism. US 3rd quarter GDP was raised to
4.1%, the fastest pace in over two years as consumer spending and business
investment picked up. The previous
reading was reported at 3.6%. The report
sent the Dow Jones Industrial Average up 60 points and on pace for its third
straight record close. The S&P500 is
also on pace for a record close. After
getting pummeled yesterday, gold prices have stabilized with the precious metal
trading at $1,196 per oz. Meanwhile oil
prices are down as is the dollar and interest rates are flat. Asian markets finished the week mixed and
Europe is up despite a credit downgrade from Standard and Poor’s. It’s a quiet day and expect next week to be
the same as traders take off for the holiday shortened week.
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