Stocks Still Set To Rise As Slow Growth Equals Cheap Money

punch bowl fruit

The punchbowl stays!

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NEW YORK (AP) — Stock futures are retreating from their highs after a report showed economic growth in the third quarter was not as strong as previously forecast.

Stocks are still set to rise for a second straight day Tuesday as investors remain confident a recovery is under way.

The U.S. government said the nation’s economy grew at an annual rate of 2.2 per cent, smaller than the previous estimate of 2.8 per cent.

Overseas markets climbed following a report Britain’s economy did not contract as much as previously thought.

Dow Jones industrial average futures are up 30, or 0.2 per cent, at 10,372. Standard & Poor’s 500 index futures are up 3.10, or 0.3 per cent, at 1,111.30, while Nasdaq 100 index futures are up 7.25, or 0.4 per cent, at 1,832.75.

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