The US Stock Exchange (Photo : Reuters)
At the end of the trading day on July 23, the stock market shows that the Dow Industry is down with 5.41 points or 17745.98, 0.06 point was added to S&P 500's 2108.63 while Nasdaq Composite Index improved by 0.3 percent adding 17.05 to its 5 128.78 points. The market also shows an increase in the US's GDP.
According to Nasdaq, the Dow industries are up for about 0.7 percent for the month of July but it averages a losing rate of 0.4 percent for the whole year.
The article also cited that the Commerce Department said that the US economic output expanded in an annual rate of 2.3 percent on the second quarter. The department added that the US's GDP increased by 0.6 percent on the first quarter.
According to the USA Today, Wall Street is looking for a stronger economic rebound. A strong economy according to the site will result to stronger corporate earnings and better earnings will push the US stock to increase.
Brad Macmillan the chief investment officer at Commonwealth Financial Network was quoted in the article in Nasdac. According to Macmillan, the economy is growing continuously but they are expecting a much better increase.
The article stated that Macmillan believes that moderate growth is good for stock investors since the Federal Reserve will take time to raise short-term interests. He added that because of moderate sustainable growth the Fed will continue in employing simulative monetary policy.
The article pointed that earning reports shows that individual stocks continue moving. The second quarter report shows increase and decrease that exceed expectations.
t was reported that Procter & Gamble Co.'s is down by 4percent. Facebook fell by 1.8 percent. The networking site posted that the company's share increased by 39 percent for the quarter.
