11/27/09 – theGrio & CNBC Market Wrap Up
TheGrio and CNBC team up to deliver a weekly wrap up of money matters and market updates for our community.
CNBC’s Shartia Brantley reports that it was a short trading week filled with the release of key economic data. Food companies beat analyst revenue estimates. The Fed expressed confidence that an economic recovery is sustainable but said the jobs market will remain weak. The economy grew during the third quarter but not as much as previously projected.
We received mixed news on housing. Sales of previously owned homes increased by 10.1 percent in October, but a new report showed nearly 10.7 million households were underwater, or had negative equity.
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