Friday, October 30, 2009
Change in market sentiment:
Gross Domestic product (GDP) is the primary gauge of the economy’s health. Healthy economy should create job in a moderate phase, job hiring dropped from last quarter, which does not support that. US GDP advance increased from -0.7 to 3.5% which moved the market sentiment in the New York session. Economic commentators say that stimulus plan and “cash for clunker” helped the economy to recover from the recession. The national association for business economics thinks this growth will slow to a 2.4 percent pace in the October –December quarter. So we might observe a mixed economic data in near future.