Economic Indicators in China show the country is growing at the slowest in 25 years. But that was expected so global markets are surging higher. China's GDP grew at 6.9%. With growing debt and too much housing and factory capacity, economists-and even Chinese officials-project a tougher year ahead. The music industry loses another legend. Eagles Founder Glenn Frey died Monday at the age of 67. The Eagles were one of the most popular bands of all times. 'Hotel California' sold 16 million copies and the band released 4 number one albums consecutively between 1975 and 1979. The Eagles have sold more than 100 million records worldwide and were inducted into the Rock and Roll Hall of Fame in 1988. UnitedHealth (UNH) reported quarterly earnings that beat analysts' expectations. The company posted quarterly adjusted earnings of $1.40 per share, down from $1.55 a share in the year earlier period. In November, the health insurer warned investors it expects to see losses on its Obamacare health plans, an announcement that generated new debate about the law. UnitedHealth says it would consider exiting the exchanges that sell the plans in 2017.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.