Consumer Confidence at 6 yr. High, GM posts Profit!!
As we predicted, the stock market is starting to correct the sell-off that it experienced last week. GM posted a profit over $800 million, showing that their re-structuring plan is working. Also, Consumer Confidence is at a 6 year high. Thanks to a drop in the price at the pump of gas ($.17 drop in the last two weeks for the national average), consumers are starting to spend more on school supplies, and even early holiday buying. Furthermore, the stability of the overseas markets have given investors more confidence to buy, showing that last weeks sell-off was more of a bump in the road than a crisis.
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