US Economy Slows In Q4, So Why Is The Stock Market Rallying?

Category: Economy / Feb 28, 2014 1:28PM EDT

Peter Cardillo, chief market economist at Rockwell Global Capital, weighs in on fourth quarter GDP revised down to 2.4 percent from the initial 3.2 percent estimate reported in January, and why the U.S. stock market is rallying. 

In afternoon trading, the Dow Jones industrial average climbed 117.32 points, or 0.72 percent, at 16,389.97. The S&P 500 Index rose 12.70 points, or 0.69 percent, at 1,866.99. The Nasdaq Composite Index was up 16.38 points, or 0.38 percent, at 4,335.26.