S&P 500 E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Thursday closed up +1.19%, the Dow Jones Industrials Index ($DOWI) closed up +0.52%, and the Nasdaq 100 Index ($IUXX) closed up +1.87%.
U.S. stock indexes on Thursday settled moderately higher as they recovered some of Wednesday's plunge. Stocks rallied Thursday on better-than-expected U.S. GDP data and weekly jobless claim figures. A recovery in European stocks from early losses also gave U.S. stock indexes a boost.
Thursday's U.S. economic data was mostly better-than-expected and was bullish for stocks. U.S. Q3 GDP rose a record +33.1% (q/q annualized), the fastest pace of growth since the data began in 1947 and stronger than expectations of +32.0%. Also, Q3 personal consumption rose +40.7% (data from 1947), stronger than expectations of+38.9%. In addition, weekly initial unemployment claims fell -40,000 to a 7-1/4 month low of 751,000, showing a stronger labor market than expectations of 770,000. On the negative side, Sep pending home sal... Read more