U.S. stocks are mixed after hotter than expected GDP growth; Amazon up next
Investing.com -- U.S. stocks were mixed after a hotter than expected report on third quarter economic output as corporate earnings continue to roll in.
The tech-heavy Nasdaq fell 2.4% on Wednesday, recording its worst day since February, while the broad-based S&P dropped 1.4% and the blue chip Dow fell 0.3%.came in at a hotter than expected 4.9% for the third quarter from the previous quarter. At the expected 4.3%, it would have been the fastest growth since the fourth quarter of 2021, and far sharper than the 2.1% pace seen in the April-June quarter.
Investors will look for signs that Amazon's aggressive expansion of same-day delivery services helped increase its third-quarter profit margin by spurring shoppers to place more frequent and bigger orders.) beat expectations for third-quarter profit and revenue, helped by an austerity drive and a recovery in digital advertising ahead of the holiday season.
However, Meta’s stock fell more than 5% as investors fretted over the company’s guidance for the fourth quarter revenue, with the $38.3 billion estimate coming in 1.6% below expectations.Crude prices edged lower Thursday, giving up some of the previous session’s gains as U.S. oil stocks rose while traders continued to focus on developments in the Israel-Hamas war.climbed by 1.
However, trading remains volatile, as traders struggle to gauge whether the war would escalate and disrupt crude supplies in the oil-rich Middle East region.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon, U.S. GDP, ECB rate decision - what's moving marketsAmazon, U.S. GDP, ECB rate decision - what's moving markets
Read more »
AUD/USD Price Analysis: Holds onto recovery ahead of Aussie Inflation, US GDP dataThe AUD/USD pair finds an interim resistance after extending recovery to near 0.6380 in the early New York session. The Aussie asset holds onto recove
Read more »
Malaysia: Healthy prints from flash Q3 GDPSenior Economist Julia Goh and Economist Loke Siew Ting at UOB Group review the recently published advanced readings for the Q3 GDP in Malaysia. Key T
Read more »
Treasury yields nudge higher as traders eye GDP and inflation data in coming daysJamie Chisholm is a markets reporter based in London.
Read more »
US GDP Preview: Forecasts from 10 major banks, surging economic activityThe US Bureau of Economic Analysis will release its first estimate of the third-quarter Gross Domestic Product (GDP) on Thursday, October 26 at 12:30
Read more »
Soft-Landing Odds Rise as Q3 GDP Nowcast Ticks UpMarket Overview Analysis by James Picerno covering: United States 3-Month, United States 10-Year. Read James Picerno's latest article on Investing.com
Read more »