Sent to you by MarcG via Google Reader:
via EdgeSingapore RSS on 8/7/09
THE RECENT HEADLINE economic news was the US preliminary secondquarter GDP report, which showed the country's economy contracted at a better-thanexpected 1% rate, following a much sharper 5.4% decline in 4Q2008 and a 6.4% decline in 1Q2009. This news reinforced the general perception that the US economy may be starting to recover and that helped to push stock prices higher yet again, albeit at a slower pace than in previous weeks. For the week ended July 31, the Dow Jones Industrial Average advanced 0.9% to 9,172, the Standard & Poor's 500 Index climbed 0.8% to 987 and the Nasdaq Composite rose 0.6% to 1,979.
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