Daily Market Commentary for September 26, 2008 from Millennium-Traders.Com
At this point no one knows if the rescue is a good idea, period. Something needs to be done but, Main Street America does not want to be holding the back for fat cats on Wall Street. (read more)
Economic data released today:
Second Quarter Corporate Profits fell 0.4% versus a drop by 7.7% in First Quarter; Second Quarter Corporate Profits revised to a drop by 0.4% from an increase by 1.0%.
U.S. Second Quarter GDP revised to increase by 2.8% Rate from increase by 3.3%; U.S. Second Quarter GDP Consensus increased by 3.3%; U.S. Second Quarter Real Final Sales revised to increase by 4.4% rate from increase by 4.8%; U.S. Second Quarter PCE Price