Morning News Friday July 27th 2007
General News:- GDP is 3.4% with the Price Index at 2.7%, 3.4% was expected. - Breakdown of GDP numbers: PCE rose 1.3%, Non-residential investment rose 8.1%, led by structures up 22.1%, equipment and software rose 2.3%, residential fell 9.3%, exports rose 6.4%, imports fell 2.6% (a sign of economic weakness), government rose 4.2% and defense was up 9.5%. - Pimco’s Bill Gross said that the Fed will not cut rates as stocks are fairly valued and the high yield is where it should be. - KKR may postpone their IPO. - Moody’s Economy.com says that there will be 2.5 million…