Today’s GDP report didn’t have much of an impact on the stock market, but there were significant effects in other markets. The dollar fell, reinforcing the downtrend and causing a short term rally to fail right at the 50 day MA:
Another big mover was the long term Treasury market which moved up in price (down [...]
2nd quarter GDP fell at an annualized rate of 1%:
Real gross domestic product — the output of goods and services produced by labor and property located in the United States — decreased at an annual rate of 1.0 percent in the second quarter of 2009, (that is, from the first quarter to the second), according [...]
The 7 year Treasury auction, unlike the 2 and 5 year earlier this week, is said to have gone well:
NEW YORK (Dow Jones)–Treasury prices jumped Thursday afternoon after a successful seven-year auction soothed investors and dealers burned by two disappointing Treasury note sales earlier in the week.
Treasury prices rose across all maturities after the $28 [...]
Jobless claims rose last week:
In the week ending July 25, the advance figure for seasonally adjusted initial claims was 584,000, an increase of 25,000 from the previous week’s revised figure of 559,000. The 4-week moving average was 559,000, a decrease of 8,250 from the previous week’s revised average of 567,250.
The advance seasonally adjusted insured unemployment [...]
