Overview
- Official figures show U.S. GDP grew at a 4.3% annualized rate in Q3, the fastest in two years, as the PCE inflation gauge rose to 2.8%.
- Treasury yields pushed higher after the report, with the 10-year around 4.18%–4.20% and the two-year near 3.54%.
- The S&P 500 is at or near record highs on a tech-led advance, with megacaps such as Nvidia and Alphabet among the day’s winners.
- Futures markets cut the odds of a January Federal Reserve rate reduction to the low teens, yet still imply multiple cuts over the coming year.
- Gold climbed above $4,500 an ounce and silver hit records, with trading thin ahead of an early U.S. close Wednesday and markets shut Thursday for Christmas.