Stocks set for a mildly higher open as all eyes on GDP
Filed under: Economy, Investing
U.S. stocks are poised for mildly positive open Thursday morning following Wednesday's selloff as a result of a surprise decline in home sales. However, mood is bound to be affected by the release third quarter gross domestic at 8:30 a.m., an hour before the opening bell. While economists look for GDP to show the economy grew 3.2 percent, ending a four-quarter streak of contraction and indicating the recession has ended, many worry about the strength of the recovery.
[Update 9:00 a.m.: The economy grew at a 3.5% pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. Futures got a boost from the reading.]
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Reader Comments (Page 1 of 1)
10-29-2009 @ 1:50PM
Dennis said...
Melly, you obviously don't see the smoke and mirrors of what tripe the government is dishing out. How can you call 'first time buyers' insentive and auto insentives growth? Everytime the numbers look like they will fall below grouth they prop up a portion of the economy,from the slush fund, to make it look good. That's a false economy. GAO said the fiscal deficit is,"unsustainable" and by 2018 will equal 148% of the GDP. Coupled with trade defecit we exceed debt in 2010 to nearly 100% of GDP and stay there thereafter. And,why are carriers profits down thru out the market? They don't deliver anything,uh okay? Commerace works for Obama.
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