According to recent economic reports, the U.S. economy is finally on the rise! This morning, the Dow Jones industrial average jumped 103 points (0.9%), the S&P 500 rose 11 points (0.9%), and the Nasdaq composite increased by 25 points (1%). Tech companies such as Google and HP were among the highest performing companies, as were oil and industrial companies, such as Chevron, Exxon, and GE.
The Commerce Department also announced some positive news this morning: retail sales increased by 1.1% in September—a considerably higher increase than the 0.3% increase in sales the prior month. Consumer spending accounts for over two thirds of the U.S. economy, so let’s hope for even greater consumption in October!