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By Jason Stipp | 10-23-2009 10:04 AM

Engines Revving, Dollars Declining in This Week's Top 5

Morningstar markets editor Jeremy Glaser on China's GDP growth, dollar discomforts, Caterpillar's optimism, Apple's streak, and still-shaky foundations in housing.

Jason Stipp: I'm Jason Stipp for Morningstar, and welcome to the Friday Five. This is our look at the week's most encouraging, discouraging, and need-to-know news items. Here with me with the Five is Morningstar markets editor Jeremy Glaser. Thanks for joining me, Jeremy.

Jeremy Glaser: You're welcome, Jason.

Stipp: So what have you got for the Five this week?

Glaser: Well, we saw China resume its incredible growth trajectory, we saw the dollar continue to decline, Caterpillar gave us a great outlook, Apple had another outstanding quarter, and we got some not-so-great housing news.

Stipp: All right. Well, let's start in China.

Glaser: China reported an 8.9% third-quarter GDP growth, which is just astonishing considering that it was only maybe six months ago that we were fretting that the Chinese growth engine had completely died.

Now, granted, a lot of this is coming from government infrastructure spending and coming from other government-supported lending programs, but it's clear that the Chinese consumer wants to spend. It's clear that all of China and its 1.3 billion people are going to continue to produce meaningful growth going forward, and I think that probably speaks well to a global recovery.

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