Economy grows 2.8 percent in third quarter
The Commerce Department reports the U S economy expanded 2.8 percent annualized from July through September driven by consumer spending and exports. Inflation cooled with PCE at 1.5 percent and core PCE at 2.2 percent while housing investment fell and equipment outlays rose. Federal Reserve rate cuts follow declining inflation.
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Labor market may show muddied October jobs read
The upcoming October jobs report faces distortions from hurricanes Helene and Milton and the Boeing machinists strike. Economists expect about 120,000 net jobs added, with unemployment near 4.1 percent, signaling durability despite temporary losses.
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Wall Street slips as Nvidia and Lilly weigh markets
U S stock indexes eased on Wednesday with the S&P 500 down 0.3 percent and the Dow off 0.2 percent while the Nasdaq retreated 0.6 percent from a high. Alphabet rose 2.8 percent after topping profit forecasts as Meta posted solid results though warns of higher AI driven infrastructure costs.
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