5/18/2018 Economic Data Gives Stock Market a Boost by Jason Galanis

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Economic Data Gives Stock Market

a Boost by Jason Galanis

5/18/2018 Economic Data Gives Stock Market a Boost by Jason Galanis

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Even though recent numbers showed that the U.S. economy dropped by .! percent" the stock market is still showing small gains.

Manu#acturing numbers look slightly better than e$pected" as consumer

spending has stalled. %he Standard & 'oor(s ) gained .* percentMonday. +ntel agreed to purchase ,ltera -orp. #or /0.! billion" causing,ltera to rally by ).1 percent.

-urrent economic numbers are not really positive" but are not too negativeeither" so the market continues to climb.

Many analysts believe that the economic data will temper the 2ed(s interestrate raising activity. %hat should help stock prices move higher.

%he recent Merger and ,c3uisition activity has given the market a bit o# aboost also. -onsumer spending has been surprisingly lower than e$pected.

-onsumer spending is the ma4or push #or the U.S. economy" and it does

not seem to be as robust as it usually is. +# this becomes a long5termtrend" it may be 3uite a while be#ore the U.S. economy picks up steam.Slow growth" may be good #or the stock market.

5/18/2018 Economic Data Gives Stock Market a Boost by Jason Galanis

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6ealth care companies and pharmaceuticals have been the best sectorsduring the past month. Bristol Meyers was up *.7 percent.

Stock trading volume was the lowest it has been #or the year during the

month o# May. %he trading range o# the Dow Jones +ndustrial ,verages hada very narrow trading range during the month as well.

,lthough" things seem to have slowed down a bit" the Dow and the8,SD,9 have made new highest recently" on lower volume. So#twarecompanies help boost the 8,SD,9" with EBay and +ntuit up /.7 percent.

2acebook also helped the tech sector move higher with an increase o# /.:percent.

;verall" the U.S. stock market looks good #or the time being.

5/18/2018 Economic Data Gives Stock Market a Boost by Jason Galanis

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5/18/2018 Economic Data Gives Stock Market a Boost by Jason Galanis

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