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National and Global, United States

Tuesday, February 2, 2010

Economic News UP....Stock Market DOWN!

Let's recap some of the good news from the Economic front from last week(jan2010):

The Commerce Department said the economy grew in the fourth quarter at its fastest pace in more than six years;

The Institute for Supply Management-Chicago said its index of Midwest business activity rose more than expected in January;

Consumer sentiment in January as measured by The Reuters/University of Michigan Surveys of Consumers hit its highest level in two years; and

Of the 220 companies in the S&P 500 index that have reported fourth quarter earnings, 78% of them exceeded analysts' expectations, according to Thomson Reuters. In a typical quarter, only 61% of companies beat Wall Street targets.

Sounds pretty good, doesn't it? So, how does the stock market respond? It goes down.

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