Wall Street seeks direction as traders assess GDP data during shortened holiday week
Market Performance: Wall Street's major indices showed mixed results, with the Nasdaq Composite up 0.2%, the S&P 500 up 0.1%, and the Dow Jones Industrial Average nearly flat, as investors analyzed delayed economic growth data during a holiday-shortened trading week.
Sector Trends: Seven of the S&P 500's 11 sectors were in the green, led by Communication Services, while Consumer Staples lagged behind as the weakest performer.
Economic Insights: The U.S. Q3 GDP growth of 4.3% exceeded expectations, but concerns arose over weak real incomes despite strong household consumption, indicating potential unsustainable spending patterns.
Treasury Yields and Stock Movements: U.S. Treasury yields increased, with the 2-year yield at 3.55% and the 10-year yield at 4.19%, while notable stock movements included Albemarle rising 2.3% and Robinhood Markets declining 2.8%.
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