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GDP Growth at 3.8%
Oct 29, 2:10 PM EDT |
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| Oil majors posted record Q3 profit on soaring oil and gasoline prices. Exxon Mobil's income jumped 75%. Royal Dutch Shell posted 68% income rise. |
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| The U.S. Commerce Department revealed that Gross Domestic Product for the third quarter grew at an annual rate of 3.8%, an acceleration from the 3.3% growth rate shown during the previous 3-month period, and above expectations of 3.6% increase. Personal consumption expenditures climbed by 3.7% in the third quarter, the government said, an acceleration from the 3.3% growth recorded in the previous period. |
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Consumer Spending up 3.7%
Oct 28, 12:43 PM EDT |
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| Microsoft's income rises 24%, Bristol-Myers Squibb's profit grows 37%, but both lower guidance. Deutsche Bank's income up 46%. |
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| The U.S. Commerce Department revealed that Gross Domestic Product for the third quarter grew at an annual rate of 3.8%, an acceleration from the 3.3% growth rate shown during the previous 3-month period, and above expectations of 3.6% increase. Personal consumption expenditures climbed by 3.7% in the third quarter, the government said, an acceleration from the 3.3% growth recorded in the previous period. |
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3.8% Economic Growth in Q3
Oct 28, 10:50 AM EDT |
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| Microsoft's income rises 24%, Bristol-Myers Squibb's profit grows 37%, but both ower guidance. Deutsche Bank's income up 46%, |
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| The U.S. Commerce Department revealed that Gross Domestic Product for the third quarter grew at an annual rate of 3.8%, an acceleration from the 3.3% growth rate shown during the previous 3-month period, and above expectations of 3.6% increase. Personal consumption expenditures climbed by 3.7% in the third quarter, the government said, an acceleration from the 3.3% growth recorded in the previous period. |
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GDP Jumps 3.8%
Oct 28, 9:42 AM EDT |
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| Oil prices steadied round $61 a barrel. Gold futures gained strength. The dollar declined against major currencies. |
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| Asian-Pacific benchmarks closed lower, led by Seoul's Kospi, down by 2.2%. The Nikkei declined 0.5% on economic data. European stocks traded below the flat line with the French CAC declining 0.3%. Microsoft reported Q3 24% earnings rise on strong demand, but lowered its outlook. Data on GDP and consumer spending is expected. |
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