"U.S. financial markets closed the holiday-shortened week on a strong note, supported by encouraging economic data and continued optimism around artificial intelligence. Major stock indices advanced, with the S&P 500 and the Dow Jones Industrial Average both reaching new record highs. Although trading volumes were lighter due to the holiday period, overall investor sentiment remained positive. The key highlight was the release of third-quarter economic growth figures, which showed the U.S. economy expanding at an annualized rate of 4.3%,"
"Increased consumer spending was the primary driver of this growth, underscoring the resilience of the U.S. consumer despite higher borrowing costs and ongoing inflation concerns. Other economic indicators presented a more mixed picture. Durable goods orders declined in October, largely due to a drop in transportation-related purchases. However, orders excluding defence and aircraft often viewed as a measure of underlying business investment continued to rise, signalling steady corporate activity."
U.S. financial markets closed a holiday-shortened week higher, with the S&P 500 and Dow reaching record highs and lighter trading volumes. Third-quarter GDP expanded at a 4.3% annualized rate, the fastest in two years, led by increased consumer spending. Durable goods orders fell in October, mainly from transportation, while orders excluding defence and aircraft rose, indicating steady business investment. Consumer confidence declined for a fifth month amid job security and income concerns. New unemployment claims fell while continuing claims edged up. Treasury yields dipped slightly and corporate bonds performed well. European equities posted modest gains, remaining cautious about recovery prospects.
Read at London Business News | Londonlovesbusiness.com
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