Obama Economy: US growth revision boosts markets

  • Posted by a hidden member.
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    Aug 27, 2015 7:30 PM GMT
    Shares rise and oil prices jumped 9% after revised figures showed the US economy grew by far more than had been thought between April and June.

    The economy grew by an annualised rate of 3.7%, up from the first estimate of 2.3%. Growth of 0.6% in the first three months of the year was not revised.

    The update reflected greater corporate investment than previously estimated.

    The growth in the economy overall was due to strong consumer and government spending, and higher exports.

    Inventories were also higher than the Commerce Department had initially estimated.

    The revision was welcome news to investors that have experienced a tough week on global stock markets, triggered by fears that the Chinese economy is slowing. They had expected the GDP number to be revised up, but not by as much as it was.

    http://www.bbc.co.uk/news/business-34074377
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    Aug 27, 2015 8:47 PM GMT
    More:

    “The economy is looking solid,” said Michael Feroli, chief economist at JPMorgan Chase & Co. in New York, who projected 3.4 percent GDP growth. “There’s a pretty broad-based pickup in domestic demand.”

    http://www.bloomberg.com/news/articles/2015-08-27/economy-in-u-s-grew-3-7-in-second-quarter-more-than-forecast
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    Aug 28, 2015 4:47 PM GMT
    Yet more:

    As Economies Gasp Globally, U.S. Growth Quickens

    Not long ago, the United States was considered the tortoise of the world economy, at least in comparison to emerging powers like China and Brazil.

    Lately, however, slow but steady seems to be winning the race. The American economy continues to chug along, while the onetime hares in Asia, South America and elsewhere are flagging.

    http://www.nytimes.com/2015/08/28/business/economy/us-economy-q2-gdp-first-revision.html?_r=0
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    Aug 29, 2015 11:32 AM GMT
    Uh?

    I thought RJ's conservatives, in particular, would be jumping for joy that the Obama economy has saved their stock portfolios from sharp falls this week. Instead, they seem strangely subdued.
  • tj85016

    Posts: 4123

    Aug 29, 2015 6:03 PM GMT
    lol he thinks that's the real reason icon_lol.gif how naïve are you really?

    chs-8-28-15-4.jpg

    and the additional $4 Trillion on the Fed's balance sheet
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    Aug 29, 2015 7:15 PM GMT
    tj85016 saidlol he thinks that's the real reason icon_lol.gif how naïve are you really?


    As it obviously went over your head; it's a parody of one of Southbeach's "Obama Economy" threads (though he only does them when it's bad economic news ). I notice you didn't pipe up during his last few though.
  • tj85016

    Posts: 4123

    Aug 29, 2015 8:14 PM GMT
    Well if you actually believe that nonsense, you're more naïve than I figured

    Stocks are not a predictive indicator. They do not follow positive or negative fundamentals. Stocks do not crash before or during the development of an ailing economy. Stocks crash after the economy has already gone comatose.

    Stock prices are run by traders, big ones . . . period
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    Aug 30, 2015 10:46 AM GMT
    Economic opinions are ten a penny (or is it nine?) and with your uber cynical outlook on just about everything economic and political, the chances of your presenting a balanced point of view on the subject are not all that great.