Power Shares US Dollar Index Bullish (UUP)

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News for 'UUP' - GDP Revised Higher; PCE, Durable Goods Also Rise


Jun 24, 2011 (MarketNewsVideo.com via COMTEX) -- Estimates of economic growth
in the first quarter were revised slightly higher by the Commerce Department
today, to an annual rate of 1.9%.

Gross domestic product was previously estimated to have grown at a 1.8% annual
rate.

The revision was slightly lower than some economists had expected, and is much
less robust than the 3.1% growth the economy experience in the fourth quarter.

The upward revision in the first quarter figures was due to a smaller increase
in imports, and stronger business inventories gains than originally measured.

The core personal consumption expenditures index, a measure of inflation watched
by the Federal Reserve, rose 1.6% in the first quarter, revised upward from an
initial report of a 1.4% gain.

And, durable goods orders rose 1.9% in May, following a decline in April.

Following the data, gold is trading around $1,508 an ounce, and the iShares Gold
Trust (IAU) trades down 1%, while the SPDR Gold Shares (GLD) trades down about
1% as well.

Crude oil is trading at $91.15 a barrel, leading the DB Oil Fund (DBO) to trade
down over .3%.

The dollar is trending higher, and the U.S. Dollar Bullish Fund (UUP) is trading
up .6%.

The SPDR S&P 500 (SPY) is trading lower by about .8% Friday.