Dow and S&P climb as GDP surpasses forecasts, Nasdaq stays decrease on Meta

Inventory index futures are combined as buyers digests Q3 GDP development.

S&P futures (SPX) are larger by 0.2% and Dow futures (INDU) +0.9% are within the inexperienced on post-earnings bounces from Caterpillar, Honeywell and McDonald’s.

Nasdaq 100 futures (NDX:IND) -0.5% are down following Meta’s tumble on a income warning and a new larger price surroundings.

Q3 GDP numbers got here in larger than anticipated as GDP grew by 2.6% in comparison with the consensus +2.4% annual fee.

Charges are barely larger. The ten-year Treasury yield (US10Y) is up 3 foundation factors to 4.04% and the 2-year yield (US2Y) is up 2 foundation factors to 4.43%. The greenback index (DXY) is +0.4%.

“Demand for the 10-year word has been sizeable because the peak of 4.34% was reached on Friday,” Caxton’s Michael Brown mentioned. “Two components appear to be driving this- pricing a slower tempo of Fed hikes, and a few haven demand because of yesterday’s droop in danger urge for food. A break under 4% may make issues attention-grabbing, and would definitely pose additional headwinds for the greenback, which touched a 3-week low towards a basket of friends on Wednesday.”

The European Central Financial institution raised rates of interest by 75 foundation factors for the second assembly in a row, which got here according to expectations.

In different financial information, September sturdy items orders got here in at 0.4%, under the forecasted 0.6% stage.