This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Futures Tick Higher After Latest US Growth Numbers

MATTHEW CRAFT

NEW YORK (AP) â¿¿ Slightly better economic growth and stronger housing sales nudged the stock market higher Wednesday. The Dow Jones industrial average managed a four-point gain.

The U.S. economy expanded at a 1.7 percent annual rate from April through June thanks to rising consumer spending and exports. That's an improvement from the initial estimate of 1.5 percent, but not enough to put a dent in the unemployment rate.

The National Association of Realtors said its index of sales for previously owned homes increased 2.4 percent in July, reaching its highest level since April 2010, the last month buyers could qualify for a federal tax credit.

"It's a mixed message overall," said JJ Kinahan, chief derivatives strategist at TD Ameritrade. "We all know we need 2 percent (economic) growth. And you can't continue to improve on housing if the unemployment picture doesn't improve. At some point, the numbers have to match."

The Dow added 4.49 points to close at 13,107.48.

The Standard & Poor's 500 index added 1.19 points to 1,410.49, while the Nasdaq composite index gained 4.05 points to 3,081.19.

Crude oil lost 84 cents to finish at $95.49. Hurricane Isaac made landfall Tuesday night, but its heavy winds and rain aren't expected to cause extensive damage to oil production and refinery operations in the Gulf of Mexico.

Markets have slipped into a late-summer lull. Indexes have barely budged amid some of thinnest trading days this year. After three days of minuscule moves, the S&P 500 index is down less than one point for the week.

Just over 10 billion shares have been traded on the New York Stock Exchange over the past four sessions, the slowest stretch since the last four days of 2011. One measure of stock-market volatility, the Vix, recently sank to a five-year low.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs