Enjoy this week's edition of The Friday Buzz. I hope it's worthy of a few minutes of your time to wrap up your week and kick off the weekend.
- Stocks Recover Mid-Week: The volatility continued in stocks this week. On Monday all three major stock indexes were up strongly before reversing and ending the day down. During trading Monday, all three major indexes, the Dow, NASDAQ, and S&P were in correction territory, which is defined as being 10% below their peak. By Wednesday the S&P had finished up two consecutive days in a row for the first time for October.
- GDP Still Going Strong: Last Friday the Commerce Department reported that the economy grew at a 3.5% annual rate in the third quarter after adjusting for inflation. The second quarter growth rate was 4.2%. Those might be the highest rates we see in a while as the Atlanta Fed expects 4th quarter growth to come in at 2.6% and the Federal Reserve believes the next few years will come in even a little lower.