Continuing the recent trend of a down day followed by an up day, stock markets in Europe and the US are trading moderately higher today, although they have not been able to claw back all of the ground they lost yesterday. US GDP was revised upward in line with expectations, while personal consumption and PCE inflation were unchanged. This report has done nothing to help either side in trying to figure out how soon the Fed may start raising interest rates, putting the focus on next week’s PMI and employment figures. USD has continued to climb on the news once outperforming all other majors as its relentless recovery keeps on rolling. Gold is down slightly while crude oil is up slightly. In forex trading, NZD is the worst performer for the second straight day under threat of RBNZ intervention. JPY and SEK are also dropping while AUD and GBP have been able to pretty much hold their ground. CAD is down moderately, running in the middle of the pack. Bond markets and shares of Janus Capital could be active today after Janus announced it has hired Bill Gross the biggest bond portfolio manager away from Pimco. Bond markets could be active in the coming weeks as traders move and or adjust their holdings. Blackberry could be active again today. Losses for the most recent quarter were not as bad as expected although sales came in a bit soft too. CEO John Chen indicated the company still intends to reach cash flow break even by the end of fiscal. The new Passport smartphone appears to be popular, the company indicated it sold out on their website within hours, but it’s unknown how many units that means. The company also indicated it has plans to double its software revenue next year Bombardier could be active as it finally got some good news in the form of a new CSeries order raising hope that it may be able to put its recent problems behind it and get momentum for the program going again, particularly as it comes on the heels of some positive flight test results announced earlier this week. Corporate News Blackberry adjusted EPS ($0.02) vs street ($0.16), sales $916M vs street $949M Nike $1.09 vs street $0.88, positive impact from World Cup Bombardier Macquarie Air Finance an aircraft leasing company has placed orders for up to 50 CSeries aircraft Janus Capital apparently has hired legendary portfolio manager Bill Gross away from Pimco Economic News Economic reports released overnight and this morning include: US Q2 GDP update street 4.6% vs previous 4.2% US Q2 personal consumption street 2.9% vs previous 2.5% US Q2 core PCE inflation street 2.0% vs previous 2.2% Sweden trade balance (SEK 2.8B) vs SEK 1.9B Japan consumer prices 3.3% as expected China leading index 0.7% vs previous 1.2% Singapore industrial production 4.2% vs street 4.9% Economic reports due later today include: 9:55 am EDT US consumer confidence street 84 8