Fourth-quarter GDP grew a bit less than expected, but consumer spending was solid, the Bureau of Economic Analysis reported Thursday. The Federal Reserve's key inflation rate for the fourth quarter matched expectations. The inflation data offers a preview of Friday's December reading of the core PCE price index. Wednesday's Federal Reserve meeting didn't budge the S&P 500.
Some economists had sharply downgraded their Q4 GDP forecasts after a big jump in the trade deficit last month, which analysts attributed at least partly to importers trying to front-run new Trump tariffs that could take effect on Feb. 1.
Stride, Await Earnings Wave; Cava, State Street, GE Aerospace In Focus" vid-repeat="1" vid-top="" vid-url="https://content.jwplatform.com/manifests/ESBMN7uU.m3u8" vid-width="100"> ↑ X NOW PLAYING Stocks Take Fed In Stride, Await Earnings Wave; Cava, State Street, GE Aerospace In FocusEconomists expect GDP growth of 2.6% in Q4, following 3.1% growth in Q3, according to Econoday. Personal consumption expenditures are seen rising a strong 3.1%.
The core PCE price index is seen rising at a 2.5% annual rate for the quarter, according to estimates posted by Bloomberg.
S&P 500 futures are up 0.2% early Thursday, helped by gains from Tesla (TSLA) and Broadcom (AVGO), though Microsoft (MSFT) and Caterpillar (CAT) are weighing on stock indexes.
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