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A Macro Data Extravaganza

Today we saw a flood of alphabet soup data, with news on the Gross Domestic Product (GDP), the ADP report on jobs and the Federal Open Market Committee (FOMC) meeting. Let’s take each one as a separate bite here, and see what the implications are for the markets.

First, today we saw the continuation of lackluster economic growth, as the nation’s GDP expanded at an annualized rate of 1.7% from April to June. While that figure did best Wall Street estimates for a GDP increase of just 0.9%, I don’t think sub-2% growth is anything to celebrate. Moreover, we got a downward revision in the first quarter GDP growth reading to just 1.1%.

Now, I am happy that the economy is growing, albeit slightly, but this rather tepid growth rate certainly doesn’t justify the Dow trading near all-time highs.

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archive

A Macro Data Extravaganza

Today we saw a flood of alphabet soup data, with news on the Gross Domestic Product (GDP), the ADP report on jobs and the Federal Open Market Committee (FOMC) meeting. Let??s take each one as a separate bite here, and see what the implications are for the markets.

First, today we saw the continuation of lackluster economic growth, as the nation??s GDP expanded at an annualized rate of 1.7% from April to June. While that figure did best Wall Street estimates for a GDP increase of just 0.9%, I don??t think sub-2% growth is anything to celebrate. Moreover, we got a downward revision in the first quarter GDP growth reading to just 1.1%.

Now, I am happy that the economy is growing, albeit slightly, but this rather tepid growth rate certainly doesn??t justify the Dow trading near all-time highs.

To read the rest of this article, click here.

Newsletter Signup.

Sign up to the Human Events newsletter

Written By

Doug Fabian is the editor of Successful Investing and High Monthly Income, and is the host of the syndicated radio show, "Doug Fabian's Wealth Strategies." Taking over the reigns from his dad, Dick Fabian, back in 1992, Doug has continued to uphold the reputation of the newsletter as the #1 risk-adjusted market timer as ranked by Hulbert??s Investment Digest. For more than 30 years, Successful Investing (formerly the Telephone Switch Newsletter) has produced double-digit annual gains. Doug has become known for his expert knowledge and timely use of innovative tools like Exchange Traded Funds, bear funds and Enhanced Index funds to profit in any market climate.

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