The economy grew more than economists had thought in the second quarter, and that's helping overshadow worries about Tropical Storm Gustav and higher oil prices. Is a nightmare how the economy went down so bad. And, finally is trying to kick back up. That help us out so much!
In a revised reading, the Commerce Department said that gross domestic product grew at a 3.3% annual pace in the quarter, much higher than the previously reported 1.9% pace and above economists' expectations for 2.7% growth.
Stocks surged this afternoon on the better-than-expected news about the economy. At 1:10 p.m. ET, the Dow Jones Industrial Average was up 169 points to 11,672. The Nasdaq Composite Index had added 21 points to 2,403, and the Standard & Poor's 500 Index had gained 11 points to 1,293. Those gains came on continued light trading, as many investors are away on vacation this week. Full article.
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