U.S. stocks are mixed after hotter than expected GDP growth; Amazon up next

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U.S. stocks are mixed after hotter than expected GDP growth; Amazon up next

Investing.com -- U.S. stocks were mixed after a hotter than expected report on third quarter economic output as corporate earnings continue to roll in.

The tech-heavy Nasdaq fell 2.4% on Wednesday, recording its worst day since February, while the broad-based S&P dropped 1.4% and the blue chip Dow fell 0.3%.came in at a hotter than expected 4.9% for the third quarter from the previous quarter. At the expected 4.3%, it would have been the fastest growth since the fourth quarter of 2021, and far sharper than the 2.1% pace seen in the April-June quarter.

Investors will look for signs that Amazon's aggressive expansion of same-day delivery services helped increase its third-quarter profit margin by spurring shoppers to place more frequent and bigger orders.) beat expectations for third-quarter profit and revenue, helped by an austerity drive and a recovery in digital advertising ahead of the holiday season.

However, Meta’s stock fell more than 5% as investors fretted over the company’s guidance for the fourth quarter revenue, with the $38.3 billion estimate coming in 1.6% below expectations.Crude prices edged lower Thursday, giving up some of the previous session’s gains as U.S. oil stocks rose while traders continued to focus on developments in the Israel-Hamas war.climbed by 1.

However, trading remains volatile, as traders struggle to gauge whether the war would escalate and disrupt crude supplies in the oil-rich Middle East region.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.

 

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