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The Commerce Department reported earlier today that the economy expanded at a 2% annual rate in the July through September quarter. Many were hoping for more as the rate of growth during the April through June period was also below average at 1.7% growth. Consumers held up their end of the bargain a bit better by helping increase spending growth values. These posted values show a 2.6% growth in spending, up from the 2.2% growth value posted in the second quarter. This represents a continuation of the slow economic recovery trends. Progress has been slow and recovery stimulation continues to be debated. Federal aid is needed to strengthen the economy as planning and method of intervention implementation becomes more controversial as we approach the mid term elections. It is anticipated that the Federal Reserve will launch a plan to purchase government bonds in an attempt to make loans cheaper and prompt lending, spending and economic growth. Overall today, uncertainty outweighed all else and stocks showed little movement as investors sidelined themselves ahead of next week’s Federal Reserve meeting. The Dow Jones Industrial Average finished in the green by .04% and finished at 11,118.49. The NYSE ended the day in the green as well and settled at 7,514. The Nasdaq finished in the green at 2,507.41. The S&P 500 fell into the red by .04% and settled at 1,183.26. The dollar gained on the euro by .0009 and the ten year treasury yield was 2.61%. Author: Frank Matto
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