July 31 (Bloomberg) -- The dollar slumped to the lowest level of the year, U.S stocks climbed to a nine-month high and gold, oil and copper rallied after a smaller-than-forecast contraction in the economy sent investors to higher-yielding assets. Treasuries increased as inflation concern eased.
The Commerce Department said the nation's gross domestic product, a measure of the economy's total output, fell at a slower-than-expected pace of 1 percent in the second quarter. But the revised first-quarter GDP contraction came in much lower, at 6.4 percent from 5.5 percent, the worst quarterly reading in nearly 30 years.
Aug. 1 (Bloomberg) -- The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed.
But the stock market is soaring, and if that is the how you determine the shape we are in financially, then there's nothing for you here... just move along.
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