Dow Soars on Strong Growth Report
Never mind reinventing government; thank your lucky stars for reinventing business. The embrace of all that's high-tech by Wall Street and business managers in the past decade has produced an unstoppa-bull market and a surging economy. The good news continued Thursday when the federal government reported faster-than-expected third-quarter GDP growth while wage costs held firm. The newly tech-heavy Dow loved the news, finishing the day up over 200 points. The reason? That low wage cost translates into a minimal threat of inflation, meaning the Fed won't tighten the cost of money by raising interest rates.
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