Economic Performance
Posted at 12:52am on Jan. 17, 2008 Somewhat Encouraging
By Pejman Yousefzadeh
I am not one of the doomcriers when it comes to the economy, but it is clear that we need all the good news that we can get when it comes to matters financial and economic. Here's some:
Stocks were mostly higher Wednesday after a Federal Reserve report showing economic growth at the end of 2007 appeared to quiet some worries of a precipitous slowdown in the economy.
The modest rebound from a sharp pullback Tuesday came after Wall Street spent most of the session fluctuating while investors combed through corporate profit reports and news that supported varying views about the economy's well-being.
Stocks gained after the Fed report -- its Beige Book survey of regional economies -- suggested economic activity increased modestly from mid-November through December, though at a slower pace than in a previous survey.
The report seemed to quell some concerns about prospects for the economy that took on new urgency after Intel Corp. issued disappointing earnings after the closing bell Tuesday.
The Fed's report bolstered enthusiasm among bullish investors who pointed to results from JPMorgan Chase & Co. and Wells Fargo & Co. The banks' reports appeared to remind Wall Street that while the fallout of souring loans was widespread, it wasn't necessarily evenly felt. And buyout news in the tech sector gave a boost to investor sentiment.
Developing . . .
Posted in Economic Performance | Economy — Comments (1)/ Email this page » / Read More »
Posted at 2:44am on Nov. 1, 2007 So We Have Some Good Economic News . . .
By Pejman Yousefzadeh
But let's remember that however encouraging this is, it is also a lagging indicator. The real test of whether we have been able to weather the credit crunch storm will come when we learn about the statistics concerning this quarter's economic performance and next quarter's as well. I am happy as anyone else in receiving news that the economy grew at 3.9%. But I am still holding my breath.
