Last Updated: 4:02 PM EST
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Stock indices finished today’s trading session mixed. The Nasdaq 100 (NDX) gained 0.59%, while the Dow Jones Industrial Average (DJIA) and the S&P 500 (SPX) fell by 0.61% and 0.03%, respectively.
Earlier today, the Atlanta Federal Reserve updated its latest GDPNow reading, which allows it to estimate GDP growth in real-time. The “nowcast” becomes more accurate as more economic data is released throughout the quarter. Currently, it estimates that the economy will expand by about 3.3% in the third quarter. This is lower than its previous estimate of 3.4%.
In fact, the Census Bureau released its U.S. Core Durable Goods Orders report for the month of September, which measures the change in order value for long-lasting big-ticket items. This report excludes the impact of aircraft orders because they tend to be very volatile. Therefore, it is generally agreed upon that the core reading provides a better gauge of ordering trends.
Core Durable Goods Orders increased by 0.4%, which was better than the expected 0.1% decrease on a month-over-month basis but still less than the previous month’s 0.6% jump. However, when including aircraft orders, growth was -0.8%. Nevertheless, this beat expectations of -1.1%.
Furthermore, the University of Michigan put out its results on consumer inflation expectations over the next five years. Consumers now expect inflation to be 3%, which was unchanged compared to the previous month. Taking a look at consumer sentiment, results came in at 70.5, which was higher than the expected 68.9. This is an increase compared to last month’s reading of 68.9.
First Published: 5:07 AM EST
U.S. stock futures were trading near the flatline on Friday, following a mixed performance by major indices in the previous session. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.12%, 0.11%, and 0.06%, respectively, at 4:29 a.m. EST, October 25.
On Thursday, both the S&P 500 and the Nasdaq Composite closed in the green, primarily driven by Tesla’s (TSLA) impressive post-earnings rally of about 22%. The stock recorded its best day in over a decade, fueled by strong Q3 earnings and a robust sales growth outlook in 2025.
However, the Dow Jones dropped 0.33% yesterday, extending its losing streak to four consecutive sessions. Declines in IBM (IBM), Honeywell (HON), and Boeing (BA) of 6.2%, 5.1%, and 1.2%, respectively, weighed on the index.
Overall, all three major indices are set to end the week with losses, breaking a six-week winning streak.
In major after-market action, L3 Harris Technologies (LHX) gained over 3% after the company delivered better-than-expected Q3 earnings. On the other hand, DexCom (DXCM) fell 16% despite reporting solid Q3 results.
On the economic front, the U.S. Durable Goods report and October’s Michigan Consumer Sentiment Index are scheduled for release today. Coming to corporate earnings reports, Colgate-Palmolive (CL), Vale (VALE), Booz Allen (BAH), and Sanofi (SNY) are slated to release results today. Investors will closely monitor these earnings and economic indicators for clues about the market’s direction in the coming weeks.
Meanwhile, the U.S. 10-year treasury yield is down at the time of writing, floating near 4.192%. At the same time, WTI crude oil futures trended lower, hovering near $70.05 per barrel as of the last check.
Elsewhere, European markets opened lower today as investors evaluated mixed corporate results, with banks performing relatively better than other sectors.
Asia-Pacific Markets Traded Mixed on Friday
Asia-Pacific indices traded mixed today as investors looked forward to Japan’s general election over the weekend.
Hong Kong’s Hang Seng index was up 0.49%. Similarly, China’s Shanghai Composite and Shenzhen Component indices gained 0.59% and 1.71%, respectively. However, Japan’s Nikkei and Topix indices finished lower by 0.6% and 0.65%, respectively.
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