The market is trading flat today. Like yesterday, the DOW is attempting to break the old all-time high record, but it came back down from its high. The final reading on second-quarter GDP (gross domestic product) came in at 2.6%, below economists' expectations of 2.9%, announced this morning. Lower inventory investment and a worsening trade balance caused the GDP downward revision. Another inflation indicator, the core price index for gross domestic purchases climbed 2.9% in the second quarter compared with a 3% rise in the first quarter. Overall it was a balance number. It means slow growth with low inflation, a very good scenario for the FED.
The big cap is still the leader for the past few sessions, (GM) and (MCD) are very good case in point examples. DOW is moving to new high, but Nasdaq is still lagging. Big and mid caps are in styles now because of slower growth.
Today's Stock Movers at 2:05 pm EST
Volume Momemtum Compared to normal days:
(Stock), (price), (+/-), (volume compared to normal)
Stocks Up:
(GM) 32.81 +0.53 +134
(IHS) 32.95 +1.18 +122
(SLB) 61.33 +0.78 +77
(AKAM) 49.68 +1.43 +46
(GVA) 54.75 +0.78 +41
Stocks Down:
(AM) 22.58 -2.46 +541
(FIF) 27.12 -1.47 +473
(FDO) 28.08 -0.87 +254
(NURO) 19.87 -1.57 +253
(BKUNA) 25.98 -1.52 +219
Tags: stocks midday
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