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Anticipation continues 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. Hopes for a swift and intense intervention are getting smaller as reports and economic data portray a recovery that continues to move slowly, but in the right direction. Yesterday, The Commerce Department reported that the economy expanded at a 2% annual rate in the July through September quarter. Consumers were busy helping to increase spending growth values. These posted values revealed 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. Index values finished the last week in October mostly in the green. The Nasdaq, NYSE and Dow Jones Industrials ended the week on a positive note and the Dow Jones Industrials had one of it’s best Octobers in years. The Dow rose 3% in October, the S&P 500 rose 4% and the Nasdaq rose 6% for the month. The dollar strengthened against the euro but lost ground to the British pound and the Japanese yen. The ten year treasury yield ended the week at 2.6% as U.S. Treasury’s closed out the week on the rise. Author: Frank Matto
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