Market Movers Friday: Goooooooold! Q1GDP, GS…
Update: Calculated Risk expands on the GDP number and the PCE:
…Here are some Q1 numbers (all annualized):
Personal consumption expenditures (PCE) increased $130.7 billion Personal saving declined $88.5 billion. Government social benefits to persons increased $61.1 billion. So the boost in PCE came from the decline in saving and the increase in benefits. That is not sustainable….
which finally showed some inflation- (hiring costs rising)..
…you know what that means…it’s been a while….
PS it has leaked that the Feds have a criminal probe into Government Slacks…poor bastards really bet on the wrong horse didn’t they? GS down another 7% to 148, several firms putting hold or sell ratings on now…
1Q GDP came in at 3.2%, slightly below expectations
Consumer Sentiment fell in April