We had another disappointment in the markets this week.  The Dow ended the week down 5.11%, the S&P 5.46%, and the NASDAQ 6.15%.  Especially beaten were tech stocks, underscored by Apple suffering from those who “sold the news” of the new tablet, as well as some general pessimism about the tablet’s ability to be truly “revolutionary.”

We’re on the record saying we won’t have a double-dip recession though, and we still believe that.  GDP numbers released this morning were strong- the Commerce Department reported that the economy grew at an annual rate of 5.7% during the fourth quarter of last year.  While bad news continues to abound, it all comes down to the product of our economy, that is, the GDP.  We saw today’s report as the promise of a continued recovery.

Next week will be all about jobs.  While there will be some data released on manufacturing, the main focus will be on the unemployment rate. We will be looking to this number to tell us where we are on the road to recovery.