"Yesterday if you recall, the Commerce Department reported 4.3% GDP growth for the third quarter of 2025, 3.5% consumer spending growth, and a 2.8% increase in the Personal Consumption Expenditures price index - three numbers that all add up to probably an economy stronger than expected, and inflation faster than the Fed would like (so negatives for the stock market)."
"The Vanguard S&P 500 ETF ( NYSEMKT: VOO) closed the day up 0.5% yesterday, approaching its all-time high of 633.71 set earlier in the month. The ETF remains tinged ever so slightly green premarket Wednesday, up less than 0.1%. (The actual S&P 500 index that the ETF attempts to mimic did set a new all-time high yesterday - 6,909.79.) Despite this news, CNBC polling of economists suggests investors are still betting on the Fed cutting interest rates twice in 2026"
VOO closed up 0.5% and neared its all-time high while the S&P 500 index set a new record at 6,909.79. The Commerce Department reported Q3 2025 GDP growth of 4.3%, consumer spending up 3.5%, and PCE inflation rising 2.8%, signaling stronger-than-expected growth and faster inflation. Despite that, economists polled by CNBC show investors expect two Fed rate cuts in 2026, supporting positive market sentiment. A weekly jobs report is due later today and markets will close early at 1 p.m. Eastern for Christmas. Analysts upgraded Costco to buy with a $1,100 target and downgraded Spire to neutral with a $9 target.
Read at 24/7 Wall St.
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