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UPDATE:Today was a big hearty "meh" for stocks.
Yesterday, it was news that the economy contracted in Q4. Today, it’s reports that unemployment applications increased by 38,000 for the week ending Jan. 27 and consumer spending rose by a lousy 0.2 percent in December.
And U.S. stocks haven’t been reacting well this morning:
Of course, as mentioned yesterday on TheBlaze (and it still applies), 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 on Tuesday came remarkably close to trading above 14,000, something it hasn’t done since October 2007.
Follow Becket Adams (@BecketAdams) on Twitter
Front page photo courtesy Getty Images.
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