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@Zalotie 2 months ago

S&P 500 hits record high after GDP beats expectations

S&P 500 hits record high after GDP beats expectations

The S&P 500 set a new closing record today after Q3 GDP came in at 4.3%, coming in well above the 3.2% forecast. Consumer spending was strong and imports were down. Tech stocks led the gains again. Nvidia rose 3% and Broadcom added 2.3%. Novo Nordisk surged 7.3% after the FDA approved the pill version of Wegovy. Tesla dipped 0.7% to $485 but remains near all-time highs. ServiceNow dropped 2.5% after confirming a $7.75 billion deal to acquire Armis. Huntington Ingalls hit a record high on news the Navy plans to order new ships from them. Gold and silver both set new record highs. Bitcoin is trading around $87k. The next Fed meeting is late January, with rates expected to hold steady.
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