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Gladiator Finance's US Economic Update 7th August 2014
US markets ended flat yesterday after a day that saw economic data suggest the economy may be growing faster than previously thought.
Originally pegged at 4% growth annualized for the first 6mths of 2014 the figure may be higher after data on the trade deficit showed that it had reduced by 7% from May to June. May's $44.7bn dropped to $41.5bn for June adding weight to the expanding economy.
Imports fell by $2.9bn to $237.4bn largely due to a reduction in consumer goods and foreign cars being imported. US Exports rose, reaching a record $195.9bn for the month of June.
It is important to note that imports of petroleum products have been falling every month since January 2014 and fell to $14.6bn, its lowest in 4yrs.
On a day that saw Russia announce its own round of sanctions, US markets initially started to lose momentum but turned around in afternoon trading once it was established that Europe had far more exposure to Moscow's retaliation. As the week draws to a close we may see further profit taking as tension appear to be rising again in the Ukraine.
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DISCLAIMER The views, opinions, findings, and conclusions or recommendations expressed on this service are those of the author(s) and do not necessarily reflect the views of the Gladiator Finance. All market data within this release is for your general information and enjoys indicative status only. Gladiator Finance does not accept any responsibility for its accuracy or for any use to which it may be put. All share prices and market indexes delayed at least 15 minutes. 52 week high and low values are calculated from close price data.
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