4Q Gross Domestic Product showed a 5.9% annualized rate of growth, compared to the 5.7% initial report while 3Q rose by 2.2%. Personal consumption advanced 1.7%, below the 2.0% forecast.Details from Bloomberg...
Existing-home sales fell 7.2% month-over-month in January to an annual rate of 5.05 million units, lower than the 0.9% increase to 5.50 million units forecast. December’s figure was upwardly revised to a decline of 16.2% from the initially reported 16.7% fall.
The final University of Michigan consumer sentiment survey for February deteriorated slightly from the preliminary reading of 73.7 to 73.6, down from January’s 74.4 reading. A reading of 73.9 was expected.
Chicago PMI unexpectedly improved, increasing from 61.5 in January to 62.6 in February. A decline to 59.7 had been forecast by economists.
More from Bloomberg...
The Dow Jones Industrial Average rose 4 points (0.0%) to close at 10,325, the S&P 500 Index was 2 points (0.1%) higher at 1,104, and the Nasdaq Composite gained 4 points (0.2%) to 2,238. Crude oil was $1.49 higher at $79.66 per barrel, and the Bloomberg gold spot price gained $10.35 to $1,116.70 per ounce. For the week, the DJIA and the S&P 500 Index decreased by 1.0%, and the Nasdaq Composite fell by 1.4%.
Magnificent Seven Update
Weekly Analysis Of Magnificent Seven ETFs
