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.
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