Will Warmer Weather Bring Economic Growth?
Stocks barely changed today as investors reacted to recent economic reports. The Fed's Beige Book seems to support the notion that the harsh winter weather has played a significant role in slowing down the economy. Which would lead to the idea that economic growth could bounce back significantly as consumers "unleash pent-up demand" during the upcoming warmer seasons. The National Highway Traffic Safety Administration has injected itself into General Motor's (GM) recall of 1.37 million cars in the United States. The administration is questioning why GM didn't fix the ignition switches back in 2004 when it first noticed a problem.U.S. airlines are expected to have their biggest spring season in over 6 years. Airlines for America believes that there will be more passengers aboard U.S. airlines as household income rises along with air travel becoming more affordable.
Word on the Street
- Former IRS official refuses to answer questions regarding tea party scandal.
- Feds questions General Motors' (GM) recall lag.
- U.S. overlooks Obama's 2015 budget plan.
- Target's (TGT) CIO resigns after security overhaul.
- Jobless rate won't fall below 6% until 2017.
- Global weather change listed as a business risk by Chipotle (CMG).
- Radio Shack (RSH) sinks on disappointing earnings and announcement of massive store closings.
Published on Mar 5, 2014By InvestorGuide Staff