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Next Hurdle = GDP

The S&P was up for the 5th day in a row thanks to a better than expected Jobless Claims report. Now we are less than 1% from 1600. Hitting that mark will have something to do with Friday's GDP announcement.

If it truly does print at +3%, as expected, then 1600 will likely be in hand by days end.

If softer, then investors will likely wait to cast final judgment until they have seen the big economic news on the docket next week: Both ISMs along with ADP and Government monthly employment reports.

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