Positive Economic
News
There were several strong economic reports during the week, but investors paid little attention. Among the highlights were durable goods orders, which rose for the fifth consecutive month, a sharp drop in initial jobless
claims that were the lowest since March 14th, and a 33.1% annualized jump in economic growth during the third quarter.5,6,7
Investors also ignored a strong start to earnings season, which has seen 85% of reporting companies in the S&P 500 index beating earnings estimates by an average margin of
19%.8