by Calculated Risk on 12/23/2014 08:41:00 PM

From the WSJ: U.S. Economy Posts Strongest Growth in More Than a Decade

U.S. gross domestic product, the fullest measure of economic output, was shown in the Commerce Department’s third estimate to have expanded at a 5% pace in the third quarter—up from the second quarter’s growth rate of 4.6% and the strongest pace since the third quarter of 2003.

The growth was buoyed by consumer spending on health care and restaurant meals, business investment in equipment and new software, and a rise in exports.

And Q4 will be decent, although it appears some investment will slow - especially for petroleum and natural gas - but the consumer will be solid. A nice end to a good economic year!

Wednesday:
• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:30 AM, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 290 thousand from 289 thousand.

• The NYSE and the NASDAQ will close at 1:00 PM ET.