April 27 (Bloomberg) -- The U.S. economy grew in the first quarter at the slowest pace in four years, hobbled by the slump in home construction and a bigger trade deficit.
The 1.3 percent annual growth rate was less than forecast and followed a 2.5 percent fourth-quarter pace, the Commerce Department reported today in Washington. A measure of inflation watched by the Federal Reserve rose at a faster pace.
Slow growth is one thing, but inflation is a no-no. Big Yen rally (it does not look like we will get USD) and all of a sudden, bulls are in trouble. Maybe we will get that swing trade after all. Watch DOW 13K on any retest. YM below S1 and gold picks up a bid above 676.
Consumer sentiment at 10.
MSFT is getting a nice pop and should provide help for NQ, since it carries a lot of weight in NDX. MMM, for the DOW, also got a good overnight bid. But we are very stretched and need a rest at the very least.
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4/27/07 10:01 AMWhat is up with GE. Up almost 3%?
4/27/07 10:14 AM
Inverse relation to the dollar breaking support?
4/27/07 10:29 AM
I think I found the culprit. http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=GE:US&sid=aVUAn4RXPYRU
4/27/07 1:54 PM
Shorts keep getting squeezed, but it might end soon.
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