1st Quarter GDP has been revised down to 1.8%. It had been previously reported at 2.4% and that was the number expected by most economists. This is a big downward revision and is cause for concern.
Read the Reuters story at http://www.cnbc.com/id/100845284
MORTGAGE RATES SPIKE; THEN MARKETS DOWN
“…the last times we saw mortgage rates surge like they just have, that marked the peak in consumer confidence and the market followed shortly after.” Story at…
Wednesday, the S&P 500 was up 1% to 1603 (rounded).