Advance Gross Domestic Product, the broadest measure of economic output, fell at an annualized rate of 6.1% in 1Q, much worse than the forecast of a 4.7% decline, and only slightly better than the 6.3% decline in 4Q. Personal consumption rose 2.2%, much better than the 0.9% expected rise, after declining 4.3% in 4Q. The core PCE Index, which excludes food and energy, rose 1.5%, just above the estimate of 1.3%. More from Bloomberg...
The Federal Open Market Committee concluded its two-day meeting today and kept the fed funds target at a range of 0.00-0.25%. The Committee said that the outlook “had improved modestly since the March meeting, partly reflecting some easing of financial market conditions, but expects that economic activity is likely to remain weak for a time.” Details from Bloomberg...
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
