US Economy Is Now Estimated To Grow An Anemic 1.9% In Q-4
$DIA, $SPY, $QQQ
The US economy is on track to grow 1.9% inn Q-4 with expected weaker consumer spending and equipment-investment growth following a private report on US manufacturing in October, the Atlanta Federal Reserve’s GDPNow forecast model showed Monday.
This was slower than the regional Fed’s prior estimate of 2.5% rate Friday, the Atlanta Fed said on its website.
The model downgraded its outlook on Q-4 real consumer spending growth to 2.4% from 2.9% and on real equipment investment growth to 1.3% from 3.9%.
The Institute for Supply Management(ISM) said Monday its national manufacturing index slipped to 50.1 in October, the lowest mark since May 2013, from a reading of 50.2 in September.
The index is barely above the 50 threshold, the dividing line between expansion and contraction.
The US major market indexes finished Monday at: DJIA +165.22 at 17828.76, NAS 100 +73.40 at 5127.15, S&P 500 +24.69 at 2104.05
Volume: trade was about average with about 845-M/shares trading on the NYSE;
- NAS 100 +8.3% YTD
- S&P 500 +2.2% YTD
- DJIA 0.0% YTD
- Russell 2000 -1.5% YTD
| HeffX-LTN Analysis for DIA: | Overall | Short | Intermediate | Long |
| Neutral (0.16) | Neutral (0.23) | Neutral (0.15) | Neutral (0.10) |
| HeffX-LTN Analysis for SPY: | Overall | Short | Intermediate | Long |
| Neutral (0.11) | Neutral (0.23) | Neutral (0.17) | Neutral (-0.06) |
| HeffX-LTN Analysis for QQQ: | Overall | Short | Intermediate | Long |
| Neutral (0.18) | Bullish (0.27) | Bullish (0.25) | Neutral (0.01) |
Stay tuned…
HeffX-LTN
Paul Ebeling
The post US Economy Is Now Estimated To Grow An Anemic 1.9% In Q-4 appeared first on Live Trading News.