By Charles Rotblut (Guest Post)
Last week, I said that Wall Street’s focus will be on the economy in the weeks to come. On cue, the economic data stunk badly enough to draw everyone’s attention. Second-quarter GDP growth was modest, and estimated first-quarter growth was revised down to a fraction of a percentage point. The ISM chimed in with a manufacturing survey that suggested that the third quarter is not off to a good start and that the short-term future may not be any better. Republicans and Democrats agreed to budget cuts and a promise to pursue more deficit reduction actions in exchange for…
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