(As of 7:20 am PST)
US stock indexes are higher this morning recovering some of yesterday's sharp losses. Economic data spurred on early gains as the
final reading of third quarter GDP showed growth in line with expectations at
4.6%. Also encouraging to investors was
the University of Michigan consumer sentiment report which showed sentiment
rising in September to the highest level since July 2013. In stock news, shares of Apple are up 2%,
recovering some of yesterdays losses after the iPhone maker came under pressure
over bending claims of its new iPhone 6. Also on a positive note, shares of
Nike are soaring, up 10% after posting better than expected earnings results
yesterday. International markets were
mixed with Asian indexes finishing the week on a mostly lower note, and
European stocks mostly higher after starting the day down. Gold is down and
oil up while interest rates jumped after several straight days of declines. Despite today’s early recovery markets are on
pace for weekly losses of 1%-2%. There’s a cautious tone going into the weekend
as investors weigh geopolitical events around the world with slowing growth in
China and tightening monetary policy in the US.
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