- A strong set of us economic data elevated the potential of further rate hikes from the federal reserve, while company earnings worried traders and set the stage for a weaker opening of the US stock markets on Friday.
- After oil firm Chevron reported a record profit, contracts on the S&P 500 reduced more of its losses, and American Express gained 5% on optimistic earnings projections. As chipmaker Intel fell more than 9% in New York premarket trade after warning that substantial economic uncertainty would impact profits, the tech-heavy Nasdaq 100 underperformed.
- The rise has slowed down recently as firm reports slowly dribble in, even if US equities are still on course to have their best month since July.
- The gross domestic product continued to grow at a faster-than-anticipated rate through the end of 2022, according to figures released on Thursday. that raised optimism for a soft landing for the world's largest economy, but it may have dampened hopes for a tilt by the Federal Reserve towards rate decreases later this year.
