T/A ETF AND INDEX

[shortterm]

Interesting how the GBP reports information is reported in the media


Supposedly futures are up because of the report:

http://www.bloomberg.com/apps/news?pid=20601087&sid=azon4Cqy9RMQ&refer=home

But the expectation for the 2nd quarter GBP was3% and it came at 2.9%. Inventories are up and the following nuggets can hardly be described as positive:

"Home construction fell at an annual rate of 9.8 percent last quarter, the biggest drop since 1995, compared with the 6.3 percent drop originally reported and a 0.3 percent decline the first three months of the year.
...
While spending growth is slowing, prices paid by consumers are not, today's report showed. The government's personal consumption expenditures index, a measure of prices tied to consumer spending, rose 4.1 percent after a 2.0 percent rise in the first quarter. The index excluding food and energy, a measure favored by Fed policy makers, rose at a 2.8 percent annual rate after a 2.1 percent rise the previous quarter."