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Thungen Financial 26th November 2014 - US Economic Update
US markets look set to continue their current good spell as data on the third quarter of 2014's GDP growth is revised up.
Initial reports suggested growth of around 3.5% for the July to September period however the Bureau of Economic Analysis yesterday confirmed the actual growth as 3.9% annualized.
This will mark a significant improvement as it is only the second time in a decade that the economy has expanded in 2 consecutive months.
With consumer spending accounting for nearly 70% of American GDP the next release of consumer spending data will be eagerly awaited to see whether the figures match.
The latest news will no doubt spur the markets again today even if rumors of a rate increase for March 2015 have resurfaced.
The Federal Reserve has been relatively noncommittal as to a date or period of when it will increase rates and this has led to speculation that it could be as early as Spring or not until the end of 2015.
We will have to wait till the next Fed meeting to see whether this latest round of data will push them to make some form of announcement regarding a rate increase.
Major US Markets as of 25th November 2014
Dow Jones 17,814.94 (-0.02%)
S&P 500 2,067.03 (-0.12%)
NASDAQ 4,758.25 (+0.07%)
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DISCLAIMER The views, opinions, findings, and conclusions or recommendations expressed on this service are those of the author(s) and do not necessarily reflect the views of the Thungen Financial Advisors. All market data within this release is for your general information and enjoys indicative status only. Thungen Financial Advisors does not accept any responsibility for its accuracy or for any use to which it may be put. All share prices and market indexes delayed at least 15 minutes. 52 week high and low values are calculated from close price data.
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