Nervous Nellies ... New housing starts down and the market is reacting .... BUT, the realreason the markets are going down IMO is because of anticipation andnervousness about the GDP numbers about to come out tomorrow. 3.2%???Seems like an awful high number to me ... so, instead of dropping ondisappointment I think the markets are factoring in a less thenexpected GDP growth for the U.S. tomorrow .............THESE numbersare a BIG THING, IMO .. this will tell the market how well the U.S.economy is actually doing ...
See the full article on CNN Money .... or click this link:
https://money.cnn.com/2009/10/28/markets/markets_newyork/index.htm?postversion=2009102812
I have pasted the GDP part below:
GDP: Thursday's reading on gross domestic product(GDP)growth is the key economic event of the week. GDP is expected tohavegrown at a 3.2% annualized rate in the third quarter aftershrinking atan 0.7% annualized rate in the second quarter.
GDPhas declinedsteadily for four straight quarters, as Americans havecontended withthe worst recession since the Great Depression.
Butthe end of therecession doesn't necessarily mean a return to a periodof robustgrowth, particularly amid rising joblessness andstill-sluggish consumerspending. Government stimulus programs haveplayed a big role in therecovery, and there are concerns about thestrength of the system oncethat support winds down.