While economic growth slowed in the fourth quarter of last year, revised GDP data now suggests that the U.S. economy grew 1 percent last quarter, higher than the initial 0.7 percent that had been reported. Many economists had been expecting a downward revision to 0.4 percent. The upward revision is based on higher than expected inventories, which could create a drag on the current quarter’s growth figures. Bigger inventory means businesses may have less incentive to place new orders in the near term, which could continue to weigh down production. Continue reading
Monthly Archives: February 2016
The Dow Jones Industrial Average closed up over 2.62% this week which was the best weekly gain for the index thus far in 2016. The S&P 500 was up 2.84% and the Nasdaq Composite finished up 3.85%.
To say financial markets have had a rough start to 2016 is a clear understatement. Thus far in 2016, financial markets have been concerned with low oil prices, Chinese currency movements, solvency of European banks, and slowing global growth. Continue reading
Global equities halted a six day rout today as the S&P 500 gained 35 points or 1.95% and the Dow Jones Industrial Average gained 313 points or 2.0%. Retail sales numbers were better than expected this morning and finished up 0.2% in January and December was revised higher as well. These numbers beat almost all analyst expectations and suggest that the U.S. consumer is still very strong. Continue reading
The markets rose this week as OPEC announced they would be meeting with Russia, spurring market speculation that the two would come to an agreement on reducing the glut of oil in the marketplace. While little has been said of this upcoming meeting, it was welcome news for traders that were desperate for some good news on oil prices. Markets also soared today as Japan’s central bank (Bank of Japan) introduced negative interest rates, a bold move meant to spur additional growth in an otherwise stagnant economy. This also puts additional pressure on the Fed to keep interest rates lower.
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