Revised U.S. GDP And Impact On The Markets

The U.S. government says the economy grew at a faster pace in 3Q than previously thought. GDP rose 2.2% in the period -- that's above Wall Street forecasts and up from previous estimates of 1.6% growth. What impact is this information having on the markets and what's driving the markets this morning?

We got two views on CNBC's Morning Call. J.J. Burns is President of JJ Burns and Co. He echoed some of the Bernanke comments of Tuesday... his inflation concerns.. and concerns about the housing glut.

Burns feels inventory is working itself through and says the ultimate end benefit user is the consumer. Burns says the consumer is smart and it will likely be a good Christmas season.

Also--he expects to see more investors go from value oriented investing to growth oriented investing.

David Chalupnik is Head of Equities at First American Funds. He also said he thought Bernanke's remarks were right on cue. He sees the economy moderating and is concerned about inflation. Chalupnik says inflation is the key number going forward--but it looks pretty well under control.

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