U.S. Economy Grew 2%, Wall Street Still Flat

NEW YORK - The stock market ended flat Wall Street trading closed last weekend after its mixed performance of listed companies. The positive sentiment came from economic growth the United States (U.S.), which rose slightly higher than predicted.


U.S. economic growth reached 2% in the third quarter of 2012 in accordance with the predictions of the U.S. Government, the figure rose significantly compared to the same period last year of 1.3%, but not enough to drive market sentiment.

Economist at IHS Global Insight, Nigel Gault and Paul Edelstein said the economy is still slow pertubuhan would affect profit issuers.

"We think growth (the economy) is still running quickly. Fact, we think the economy will still be moving slowly for the future," they said in a research results quoted by AFP on Saturday (27/10/2012).

The movement of the stock market is still affected by the issuer's financial performance report. Shares of Apple fell 0.9% after its financial performance slowed, while Amazon raced 6.9% ahead of the holiday season.

Most bank stocks hit correction, jaruh 2.2% Citigroup, Bank of America and JPMorgan Chase fell 1.3%.

At the close of trading Friday, the Dow Jones index edged up 3.53 points (0.03%) to a level of 13107.21. The S & P 500 lost 1.03 points (0.07%) to a level of 1411.94, while the Nasdaq composite index increased 1.83 points (0.06%) to a level of 2987.95.
source: detik.com

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