“After yesterday’s toppy market action…one can argue that the picture is very mixed once again. The first estimate of 4Q GDP came in at 2.8% versus a forecast of 3%. This was still the fastest pace in 1 1/2 years. Consumer spending rose to a 2% rate, business spending rose by only 1.7%, and home construction rose by the fastest pace since 2Q of 2010.”     

 

Click here to read the 1-27-12 Daily market notes by Donald Selkin, Chief Market Strategist