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Friday, July 29, 2011
There will be no vote on the Boehner debt plan tonight, according to House Republican Whip McCarthy. Votes need is over 200+.
08:14 AM Q2 GDP figures are due out shortly, with economists estimating growth decelerated to 1.8% from 1.9% in Q1. A main reason for the softening is weak consumer spending, which accounts for about 70% of the economy, while corporate investment was probably a driver of growth.
04:36 AM Despite a revenue base that dwarfs Apple's (AAPL) ($2.16T vs. $63.5B for FY'10), the U.S. government currently has less cash on hand than the world's largest tech firm. The Treasury said yesterday its "Total Operating Balance" is $73.8B; Apple's current cash reserves are $75.9B, as of its recent quarterly report.
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