Markets Soar As Economy Slows

The economy grew at a modest 2.5% rate in the second quarter as higher oil prices reigned in spending. Investors hoped that the slower growth would help to moderate inflation which jumped to 2.9%. The Dow jumped 137 points to 11,237. Nasdaq soared 38 points to 2,092 while S&P 500 climbed 16 points to 1,280. The 30-year bond rose as the yield eased to 5.071%.