4E: U.S. GDP growth in the third quarter fell short of expectations, and the strength of "small non-agricultural" far exceeded expectations
October 31 news, on Wednesday, local time, the latest data released by the United States showed that GDP growth slowed slightly in the third quarter, less than expected. The U.S. ADP employment data, known as the "small non-agricultural", far exceeded expectations, setting a record. The highest level in more than a year. The data is mixed, reflecting the continued uncertainty about the U.S. economic situation. According to 4E monitoring, U.S. stocks rose for a while in early trading, but then turned sharply and finally fell. The Nasdaq Index hit an intraday high and led the decline by 0.56%. The Dow closed down by 0.22%. The S & P 500 Index fell by 0.33%. Most of the "Seven Sisters of Technology" and AI concept stocks fell. Trump trading in the crypto market has risen, and Bitcoin has fallen back after approaching historical highs and is currently hovering at US$72,000. As of press time, Bitcoin was trading at US$72,245, down 0.23%, and Ethereum was trading at US$2,652, up 0.71%. In terms of foreign exchange stocks, the US dollar index once rose to an intraday high of 104.44, but then turned lower and finally closed down 0.17%. As the market lowered expectations for a sharp interest rate cut by the European Central Bank in December, the euro rebounded against the US dollar and closed up 0.35%. Uncertainty in the U.S. electoral situation and geopolitical instability, and defensive positions such as long gold in the market continued to support gold prices. Spot gold hit a record high on Wednesday and finally closed up 0.43%. U.S. EIA crude oil inventories fell unexpectedly, coupled with reports that OPEC+ may delay its oil production increase plan, international oil prices closed up on Wednesday. WTI crude oil finally closed up 2.31%, and distribution oil closed up 2.3%. The latest data shows that the U.S. economic growth has unexpectedly declined, and inflation and consumption have been higher than expected. A more comprehensive and more closely watched October non-farm payrolls report will be released on Friday. Most markets expect that the pace of the Federal Reserve's interest rate cuts will not change, and will continue to cut interest rates by 25 basis points at the November 7 - 8 meeting. At the same time, the U.S. election has also entered a white-hot stage. The latest polls show that voters tend to give Trump a better score on the economy. Global investors are also betting that Trump will win next week's U.S. election., but no matter what the outcome is, the market will experience greater fluctuations as election day approaches. ee.com is a financial trading platform that supports cryptocurrencies, stock indices, bulk gold, foreign exchange and other assets. It recently launched the USDT stablecoin wealth management product with an annualized yield of 5.5%, providing investors with potential safe-haven options. 4E reminds you to pay attention to market volatility risks and rationally allocate assets.
Disclaimer: The views in this article are from the original author and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.