The U.S. economy grew at a 2% annual rate in the three months through September below the projected 2.7% expected by analysts surveyed by Refinitiv. The disappointing reading came at the back of slowing consumer spending due to the resurgence of COVID-19 cases and supply-chain bottlenecks.
Elsewhere, Ford Motor Co. shares hit a 7-year high after the automaker raised its full-year profit guidance on strong demand for trucks.
The Facebook name change to "Meta." spiked the shares of the social media giant while Amazon Inc., Apple Inc., Starbucks Corp. and U.S. Steel Corp. brought in their third-quarter reports after market close.
Commodities, West Texas Intermediate crude oil rose 15 cents to $82.81 a barrel as gold ticked up to $3.80 to $1,801.60 an ounce.
The European bourses had a mixed performance in yesterday trading, Germany’s DAX 30 slipped 0.06% and France’s CAC 40 jumped 0.75% after the European Central Bank kept policy on hold. Britain’s FTSE 100, meanwhile, was weaker by 0.21%.
The Asian market declined and traded weaker across the board with Hong Kong’s Hang Seng index losing 0.28%, Japan’s Nikkei 225 sliding 0.96% and China’s Shanghai Composite declining 1.23%.
SOURCE: CNBC
IMAGE SOURCE: PIXABAY
