U.S. stock appeared set to start the trading day lower, following suite with overseas markets.
Yesterday the Fed announced that it will start buying government bonds with money it receives from maturing mortgage backed bonds it bought during the recession. The objective is it to try to keep mortgage and corporate rates low to help grow the economy faster. The move also pushed Treasury prices higher.
On the economic front, the appetite for imported goods rose in June, but not overseas as U.S, exports fell. The overall trade deficit widened 18.8% from $42.0 billion in May to $49.9 billion in June. The growth in imports points to higher demand, but will also lead to a lower revision to second quarter GDP.
- Harrington Wealth Management
- Our firm provides comprehensive trust and investment management services by employing a customized asset allocation approach. By focusing on the individuality of each client, Harrington Wealth Management Company has helped high net worth individuals, families, and small institutions grow and sustain their wealth through proven investment practices since 1994. A fee-only advisor, we also offer other financial services from our offices in California, Kansas and Indiana that include custody, estates, land trusts, probate administration, guardianships, personal trust administration, retirement plan services, and investment consulting services.
