UPDATED: Here’s How Today’s Econ News Has Affected U.S. Stocks
U.S. stocks didn’t react well to the Bureau of Economic Analysis’ announcement this morning that real gross domestic product (GDP), the total output of goods and services in the U.S., was -0.1 percent in the fourth quarter of 2012, the first negative print since December, 2009:
Still, despite today’s dip in stocks, the Dow Jones Industrial Average and Standard and Poor’s 500 continue to hover in milestone territory.
The S&P last week traded above 1,500 for the first time since Dec. 10, 2007, and the Dow yesterday came remarkably close to trading above 14,000, something it hasn’t done since October, 2007.
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