So, the first revision comes out and it's below consensus. As you recall, the initial print came in at 3.5%, and consensus was looking for a revision of 2.9%. Now, we see it at 2.8%. This is horrible news for the Administration, but especially Mr. Geithner.
More later on this one, but it's clear that the U.S. economy is stuck in quicksand.
Overseas Boxscore:
Straits Times: -0.64%
Kospi: -0.78%
Nikkei: -1.01%
Hang Seng: -1.53%
Shanghai: -3.45%
LandColt Scorecard:
Sorry, folks, for not posting this last night. We've been swamped with the new office in LA and media interviews. The O&G Model went into GVPIX.
Yesterday's returns:
LandColt Trading O&G Model: -1.59%
Dow: +1.29%
GDP print will be a market mover. Stay tuned for more.
Talk to you,
Todd M. Schoenberger, Managing Director
LandColt Trading, LLC
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