Despite the hawkish undertones, stocks managed to stabilize, with major indices posting modest gains as dip-buyers emerged.
The S&P 500 rose 0.5%, recovering from a steep 3% selloff on Wednesday—its worst one-day drop since September 2022. The Dow Jones Industrial Average gained 0.4%, attempting to break a staggering 10-day losing streak, its longest since 1974, while the tech-heavy Nasdaq 100 edged 0.3% higher.
Thursday's economic data continued to underscore the resilience of the U.S. economy. Third-quarter GDP growth was upwardly revised from 2.8% to 3.1%, amid strong consumer spending. Weekly jobless claims fell to 220,000 last week, below forecasts of 230,000, signaling a still-tight labor market.
In currency markets, the U.S. Dollar Index (DXY) rose 0.2%, hitting its highest level since November 2022, supported by robust economic data.
Bitcoin (CRYPTO: BTC) remained flat at $100,000, following Wednesday’s 5.6% plunge.
Thursday’s Performance In Major US Indices
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Thursday’s Stock Movers
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