The markets are steady after breaking a three-day losing streak while investors waited for the latest gross domestic product data.
The GDP is the biggest report of the quarter and will tell us if the economy is growing, and by how much.
This quarter’s GDP came in at 2.3%, right in line with consensus estimates of 2.1% to 2.3%. Had it been lower, the Federal Reserve might have had reason to reconsider its plan to pull back on bond purchases. But as it stands, the Fed will likely hold its course.
The Biden administration announced plans to hold a meeting to address ongoing supply chain issues. Private sector companies, such as transport business FedEx, and U.S. officials will discuss efforts to fix disruptions caused by the pandemic.
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The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our Terms and Conditions for more information.
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