"The U.S. economy picked up steam beyond economist expectations thanks to a consumer that continues to spend as well as corporate America's AI capex. Q3 GDP, which was delayed amid the government shutdown, climbed by a robust 4.3% in the period, the strongest performance in two years and compared with economist forecasts of 3.2% growth. Additionally, consumer spending revved up to 3.5%, up from 2.5% in the prior quarter."
"The U.S. government has revealed that tariffs on semiconductor shipments from China will remain at current levels of zero until mid-2027, according to reports. The E-mini PHLX Semiconductor Sector index (SOX) is tacking on 1.1% today. On the commodities front, copper prices have reportedly hit a fresh all-time high of $2,000 per ton. Gold prices have also entered record territory to above $4,400 per ounce."
U.S. Q3 GDP climbed 4.3%, the strongest in two years, driven by robust consumer spending and corporate AI capital expenditures. Consumer spending increased to 3.5% from 2.5% the prior quarter. Major stock averages opened lower despite the strong data amid concern that faster growth could alter the Federal Reserve's interest-rate path. The government will keep tariffs on semiconductor shipments from China at zero through mid-2027, and the PHLX SOX index gained about 1.1%. Copper reached an all-time high near $2,000 per ton while gold topped $4,400 per ounce. Micron and Intel advanced; First Solar pulled back; ServiceNow announced an acquisition.
Read at 24/7 Wall St.
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