dropped 6.3% to a two-month low as the Facebook parent forecast 2024 spending above estimates and suggested the Middle East conflict could dampen fourth-quarter sales.On the data front, durable goods rose 4.7% in September, higher than the estimated 1.7%, while jobless claims climbed to 210,000 in the week ended Oct. 21, versus the expected 208,000.
"The Fed looks at jobs and inflation as to whether they're going to tighten even more. So, in the case of GDP, good news is good news and it's a Goldilocks morning of economic data."said its ground forces had pushed into Gaza overnight to attack Hamas targets. Israeli Prime Minister Benjamin Netanyahu said the country was "preparing for a ground invasion" that could be one of several.
Advancing issues outnumbered decliners by a 1.40-to-1 ratio on the NYSE and by a 1.14-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and 21 new lows, while the Nasdaq recorded five new highs and 182 new lows.United Parcel Service cut its 2023 revenue forecast for the second straight quarter on Thursday as delivery demand continued to soften ahead of the key holiday season, sending its shares down 5% in early trading.
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