S&P 500 Snapshot: Controversial GDP Takes its Toll
From dshort.com - Advisor Perspectives January 30, 2013 - 4:41pm
Jan 30, 2013 Doug Short The pre-market release of the Q4 Advance GDP put the market into a bit of a mild tizzy. The -0.8% GDP was well below the 1.6% consensus, which was already trimmed to about half the Q3 GDP number. But the Bullish analysts quickly explained that bad was really good if you looked beneath the covers. After some morning malaise, the S&P 500 bumped its head on the opening price in the early afternoon. But the lack of some positive spin in this afternoon's FOMC statement sent the buyers into hybernation, and the index slid to a moderate loss of 0.39%.More...
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