Q-II GDP was lower than previously assumed. It was only +2.4% instead of the estimated +3.7%. This revision is primarily due to an increase in imports and, therefore, a larger imbalance in trade.

Kevin Schultze - Managing Director at Stone & Youngberg - says, "...the other components of GDP seemed to be growing at a reasonably good pace. In addition, fixed investment, which is essential for future growth, is expanding."


Market technicians point to a successful completion of a head & shoulders pattern in the S&P. I am not a technician, but I do listen to their analyses.