Stocks Are On The Verge Of 5 Straight Down Days

A stronger-than-expected
GDP reportand a lower-than-expected tally of
initial unemployment insurance claimshas everyone feeling better about the economy today.

However, these new stats are likely to increase the odds that the Federal Reserve will taper its quantitative easing program sooner than later.

This may explain why markets pulled back after the two economic reports earlier this morning.

And this afternoon, markets are really tumbling.

The Dow is down 69 points and the S&P is down 8 points, which reflect declines of 0.4%.

Negative close would reflect the fifth straight day of losses in the market.

“The key risks to markets are US growth being too strong (leading to earlier-than- expected tapering), China growth surprising on the downside, too much corporate spending (bad for margins and depreciation charges) and a European political event,” said Credit Suisse’s Andrew Garthwaite earlier this week.

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