Thursday, April 25, 2024

Despite Weaker GDP Numbers Jobless Claims Fall, Stock and Bond Speculators Not Happy

First up, from Yahoo Finance, April 25:

GDP: US economy grows at 1.6% annual pace in first quarter, falling short of estimates

The US economy grew at a slower pace than expected in the first quarter.

The Bureau of Economic Analysis's advance estimate of first quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 1.6% during the period. Economists surveyed by Bloomberg estimated the US economy grew at an annualized pace of 2.5% during the period.

The reading came in significantly lower than fourth quarter GDP, which was revised up to 3.9%....


And from the AP via U.S. News & World Report, April 25: 

US Applications for Jobless Claims Fall to Lowest Level in 9 Weeks
Fewer Americans applied for unemployment benefits last week as the labor market continues to hold up despite higher interest rates imposed by the Federal Reserve in its bid to curb inflation 


Bonds are getting hit, with the CBOE interest rate futures on the 10-year pricing 4.7210% (+0.0690). Major stock indices down 1.4% to 1.8%.