US Equity Indexes Rise in Midday Trading

MT Newswires Live01:31

US equity indexes rose in midday trading on Tuesday, with communication services and technology topping sector charts amid mixed macroeconomic data.

The Nasdaq Composite climbed 0.4% to 23,524.1, with the S&P 500 up 0.3% to 6,897.2 and the Dow Jones Industrial Average 0.1% higher at 48,422.5.

Real estate and consumer staples led the decliners.

In economic news, the US economy grew at an annual rate of 4.3% in Q3, the fastest pace in two years, amid robust consumer spending, according to an initial estimate released Tuesday by the Bureau of Economic Analysis. The consensus was for 3.3% jump in a Bloomberg-compiled survey. The GDP growth was 3.8% in the June quarter.

Demand for US durable goods declined more than expected in October, weighed down by double-digit drops in the civilian and defense aircraft segments, according to the delayed Census Bureau data.

Orders for tangible items with an average life of at least three years decreased by 2.2% sequentially to about $307.38 billion two months ago, the Census Bureau said. That follows a month-on-month gain of 0.7% in September. The consensus was for a 1.5% decline in October, as per a survey compiled by Bloomberg.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment