Growth number for the third quarter. Giving our country the fastest growth backtoback quarterly growth, that we have had in ten years. Thats a monumental turn. And while i typically dont care about these numbers, as you know, on a day when the dow inched three points lower, s p down 3. 2 and the nasdaq advanced 0. 7 , this gdp number is so encouraging that i actually think its worth to take a few moments out to discuss it. First, when youve had a run like the one we have had lately, it better be backed by something. This isnt a fedinspired anymore, sure, these stocks are hanging in, but they are not generating the performance they once did. In fact, theyve been left in the dust by the rest of the markets despite their terrific yields relative to treasuries. This market is now backed by the full faith and credit of higher profits and better growth than we thought. It is spurred on by the Consumer Spending more money. Something that our countrys gdp, which is 70 consumer driven totally a
Owned homes is falling short. The consensus among economists we surveyed was four point 4. 9 million. Economists were looking for a 1. 7 rise. That had been ratcheted down from last week. Existing home sales are tallied only when purchases are closed. They do account for more than 90 of the u. S. Residential market. Perhaps harsh weather played a role for the disappointing read. When it comes to effect on the market stocks are not showing much change from this latest report. The dollar remains weaker. The 10 year yield is pretty much where it was before. Off its low, certainly. This kicks off a week of lots of housing numbers. We will have that for you throughout the week. Matt thank you so much. We will dig deeper into that story in just a moment. Olivia lets start with the bulletin. The top business stories that you should be watching. This week could prove decisive for greece. Prime minister tsipras is meeting with Angela Merkel this week. The bailout money is not likely to happen u
This year. This pocketsized charger is packing a serious punch. And we have Nicole Petallides watching out for us at the new york talk exchange. Reporter that is right, the dow jones and the s p 500 hitting alltime record highs today. Just when we thought the rally was over. Up 81 points. The s p 500 up about a half precent. And the nasdaq, helped along by apple. Fortyone, 43. These are the highest levels that we have seen. The s p 500 is also out. If you are an insider and you follow the sox coming have to update your numbers. Up 5 today. New highs, up 37 busier or facebook. That is a great year. Adam thank you very much. The s p 500 up 35 , on track for its best year since 1997. We just learned from nicole. The my next guest says despite the major gains, this is the most hated bull market that he has seen in his nearly 30 year career. Hank smith is a chief Investment Officer for haverford trust. And you dont think that this is even close to being over. I remember in january of this y
System used by criminals over 800 are arrested. You are watching bbc news. Schools in england will return full time and at full capacity in september. The plans are based on keeping year groups separate from each other, to reduce the risk of spreading the virus. The so called bubbles will keep classes or year groups apart as much as possible during the school day, with different break and lunchtimes. The government said it will stagger start and end times in order to encourage social distancing. If a local outbreak is confirmed at a school, a mobile testing unit could be deployed to test pupils. The education secretary for england Gavin Williamson also said the government is issuing guidance for schools on making extra curricular clubs and wrap around services available, such as breakfast clubs. Schools and colleges should be able to return to delivering their full curriculum ahead of exams next summer. And parents could be fined if their children do not attend school. Lets speak now t
Games in sochi. The true heroes behind the dangerous war time work to rescue art stolen by the nazis. Some people blame it on the stormy winter weather. Others say its proof that economic recovery has a ways to go. Either way, underperformance. Well begin our coverage with real moneys ali velshi. What happened last month . We were waiting for recovery in january. For the second half of 2013, job growth on a monthly basis had been very, very strong. In fact we averaged 194,000 jobs a month, if you averaged over all of 2013. Then december came, and we grew by 75,000 jobs. Something went wrong, who knows what happened . We were hoping for a better result in january and we came out with 113,000. What do you make of that . Better than 75, but nowhere near the 200,000 plus that we needed. Thats what shocked everybody. The Unemployment Rate actually dropped from 6. 6 from 6. 7 but thats really not important at this point in the economic cycle. One thing, there was one bright spot, im an optim