Final Gross Domestic Product, the broadest measure of economic output, fell at an annualized rate of 5.5% in the First Quarter, a slightly smaller contraction than the forecast of output to remain at a 5.7% decline. The core PCE Index, which excludes food and energy, rose 1.6%, above the estimate which called for it to remain unchanged at 1.5%. Details from Bloomberg...
The Dow Jones Industrial Average jumped 173 points (2.1%) to close at 8,472, the S&P 500 Index gained 19 points (2.1%) to 920, and the Nasdaq Composite rose 37 points (2.1%) to 1,830. Crude oil rose $1.56 to $70.23 per barrel, and gold gained $8.25 to $939.65 per ounce.
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
