The Dow Jones today could see only a slight uptick as investors await the latest interest rate update from the Federal Reserve.
More on this below. Also affecting the Dow today: a round of earnings reports from some of Silicon Valley's top players. We'll tackle those stories and more.
But first, here are the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:
Now, here's a closer look at today's Money Morning insight, the most important market events, and stocks to watch.
This morning, economic data appeared much better than many economists had expected. U.S. GDP ticked up 1.9% in the third quarter, a figure that beat expectations by a tenth of a percentage point. Though I haven't fully dug into the Commerce Department report just yet, my early interpretation is that consumer spending continues to outpace expectations by a modest margin. Meanwhile, we received positive news on the jobs front. Private payrolls, according to ADP, topped 125,000 new positions in October. That figure was also higher than forecasts. However, it's worth noting that ADP did downwardly revise its estimates for September. On Friday, the U.S. Labor Department will release the official report for October.
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