The Market 10/28/11: Finally, Some Good News

The Market 10/28/11: Finally, Some Good News

We’re really pumped … We have good news for you this week!

The tough part about writing a newsletter about the economy is that we don’t exactly enjoy being the bearers of bad news. And this week we aren’t! (At least, a lot less than usual.)

Here’s why we’re stoked: U.S. economic growth accelerated this summer, consumer spending is up and fears about slipping back into a recession are temporarily relieved. Gross domestic product (GDP) has had its strongest performance in a year. European leaders finally reached a debt deal, which caused markets around the world to surge. The S&P 500, which had been negative for the year until now, soared back into the black yesterday, in the largest monthly percentage gain in a quarter century.

Okay, not everything is rosy, but we’re gladly accepting this reprieve from negativity. So, for worse and also for better, we bring you this week’s top headlines and what they really mean for you.

European Leaders Finally Reach a Debt Deal

At long last, 17 European leaders reached a deal on Greek debt! We break down what the deal entails—and what the future holds.

New Help for Homeowners

On Monday, the president announced a new plan to help underwater homeowners refinance their mortgages. Here’s why it’s different this time around.

Consumer Confidence Drops

Sorry, not all our headlines are positive! Today, we’ll explain why consumer “confidence” isn’t keeping pace with the improving economy and consumer spending.

Why More People Aren’t Buying Houses

With home prices way down and interest rates at historical lows, now should be a good time to buy a home. So, why aren’t more people doing it?

Image Credit: Flickr/Chesi - Fotos CC

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