Fickle? Unpredictable? Uneducated? Looking for words to describe the market’s reaction to a negative GDP reading for the first quarter of 2014. Gross Domestic Product is the mack daddy of economic reports because it says encompasses about every other report’s reach. Under normal circumstances you’d see stocks and rates plummet on news that our economy actually contracted over the last three months. Today, the inverse is true. Why? Is certainly is not because Pending Home Sales also contracted from 3.4% in March to only 0.4% in April. Crazy stuff.
