Economy expands 3.2 percent in third quarter growth
The U S economy grew at a 3.2 percent annual pace July through September, stronger than the prior estimate. Consumers boosted spending and exports led growth while housing investment slumped 27.1 percent due to higher mortgage rates. Analysts expect slower growth in 2023 amid higher rates.
MENTIONED IN THIS ARTICLE
Washington
U.S
Federal Reserve
Fed
Commerce Department
Federal Reserve Bank of Philadelphia
Con
Rabeela Farooqi
Stocks slide on rate hike worries
Wall Street closed broadly lower as stronger than expected economic data stoked fears the Federal Reserve will maintain high interest rates. The S&P 500 slid 1.4 percent, the Dow fell 1 percent, and the Nasdaq dropped 2.2 percent as investors weighed rising rates and a cautious outlook for inflation. Chipmakers led declines with Nvidia down 7 percent and Micron Technology forecast softness weighing on the sector.
MENTIONED IN THIS ARTICLE
New York
Wall Street
U.S
Nvidia
Federal Reserve
Fed
Micron Technology
Micron
FTX founder Bankman-Fried freed on 250 million bond
Sam Bankman-Fried left a Manhattan courthouse after his parents signed a 250 million bond and agreed to house arrest in Palo Alto while he awaits trial on investor fraud and customer-deposit theft charges. He faces strict bail terms and possible future court dates. Carolyn Ellison and Gary Wang pleaded guilty to multiple fraud charges in a related case.
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New York
Sam Bankman-Fried
Manhattan
California
U.S
Nicolas Roos
Bankman-Fried
Roos
Gabriel W. Gorenstein
Gorenstein
Bankman Fried
Bahamas
Carolyn Ellison
Alameda Research
Gary Wang
FTX
U.S. District Court
Tesla Cuts Prices on Model 3 and Y Amid Slowing Demand
Tesla Inc offers $7,500 discounts on Model 3 and Model Y through year end as demand slows and a new $7,500 federal tax credit takes effect in January. The move follows talks of North American battery supply rules and aims to boost year end sales toward a 50 percent growth target, with CEO Elon Musk citing production and shipping logistics as challenges.
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Detroit
Tesla Inc
Austin
Texas
Tesla
Wedbush Ana
Lyst
Dan Ives
North America
Treasury Department
Ence
Zachary Kirkhorn
Elon Musk
Musk
Doe
SEC
The
Associated Press
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the Market IN Review
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S&p 500
Dow Industrials
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Nyse Composite
Nasdaq
S&p
Wilshire
Russell
AMC
Lumentch
At&t Inc
Microsoft
Amazons
MultiAuto
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Apple Inc
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CarMax
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Palantir
Citigroup
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PayPal
CocaCola
PepsiCo
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WalMart
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Kalera
Keycorp
WellsFargo
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NYSE
AMD
Omeros
Vaccitech
Nymx
New York Mercantile Exchange
Chicago Board of Trade
CME
Chicago Mercantile Exchange
ICE
Intercontinental Exchange
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