US GDP & JOBS DATA TODAY:
GDP for Q3 comes in at 4.4%, above expectations of 4.3%
Jobless claims come in at 200K, below expectations of 210K
so...the economy is growing faster than expected and people are filing for unemployment much lower than expected
what does that mean? for the short term, likely no rate cuts on January 28th at the FOMC meeting, probabilities now at 5%
if more people have jobs, they can spend more and if the economy is growing, there might not be a desperate need to stimulate by cutting rates
but for the markets, we need growth in earnings and the best way to get that...is for people to have jobs and for GDP to show continued growth, so the lack of a rate cut in the short term might not matter at the moment for the market
not a horrible spot to be in, what would make this really good is if we start seeing signs if disinflation due to things like AI, productivity, etc. which keeps GDP high, the labor market stable, AND inflation comes down which warrants the rate cut
$SPY S&P trying to get back to all time highs in the premarket
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- quiettt·01-23Solid data! S&P poised for new highs. [看涨]LikeReport