US GDP Might Increase By This Much In Third Quarter, Here Are The Major Macro Issues For Thursday

US GDP Might Increase By This Much In Third Quarter, Here Are The Major Macro Issues For Thursday

U.S. stocks closed mostly lower on Wednesday with the Nasdaq Composite dropping more than 200 points amid gains in Microsoft Corporation MSFT and Amazon.com, Inc. AMZN shares.

Let’s have a look at the major economic events scheduled for today.

  • Data on durable goods orders for September will be released at 8:30 a.m. ET. Analysts expect durable goods orders increasing 0.6% in September following August's 0.2% drop.
  • Gross Domestic Product report for the third quarter will be released at 8:30 a.m. ET. Analysts expect Q3 GDP increasing to 2.3% annualized growth compared to contraction of 0.6% in the second quarter.
  • Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Jobless claims are expected to come in at 223,000 for the October 22 week versus 214,000 in the previous week.
  • The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
  • The Kansas City Fed manufacturing index for October will be released at 11:00 a.m. ET. Analysts expect the Kansas City manufacturing index rising slightly to 3 in October from 1 in September.
  • The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
  • The Treasury will auction 7-year notes at 1:00 p.m. ET.

Market Volatility Decreases As US Stocks Extend Gains

Check out our premarket coverage here

Posted In: Economic DataNewsEconomicsPre-Market OutlookMarketsTrading Ideas