On Wednesday's Market Foolery, host Chris Hill and Bill Barker, Motley Fool Funds analyst, calculate the importance of the GDP.
The Bureau of Economic Analysis released their final estimate of the GDP for the first three months of 2013, with results down 2.9%. Bill explains that previous estimates were down about a percent, and then up just a bit, and adds that the margin of error is relatively high. Furthermore, Bill suggests that the market doesn't care.
Chris explains how the market didn't move after the results were released, and he wonders why the market doesn't care more. Bill explains that the results are old news as we're almost ending the second quarter. Instead, the market cares more about how much companies are down, or how much they are making. Because companies report their own findings, the reports from the Bureau of Economic Analysis just won't push the market. Bill then discusses market growth throughout the year, and what does push the quarter along.