Live Nasdaq Composite: Markets Snub Signals of Growing Economy on Rate Fears
Quick Read
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Q3 GDP climbed 4.3% versus expectations of 3.2%. Consumer spending accelerated to 3.5% from 2.5% in the prior quarter.
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U.S. tariffs on Chinese semiconductor shipments will remain at zero until mid-2027.
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Copper hit a record $2,000 per ton. Gold reached an all-time high above $4,400 per ounce.
Live Updates
Inflation Target
Treasury Secretary Scott Bessent believes the Federal Reserve’s inflation target of 2% should be revised, suggesting on a podcast the central bank widen its threshold to a range once consumer prices revisit that level. The annual inflation rate currently hovers at 2.7%.
The major stock market averages are now seeing green across the board.
2026 AI Outlook
Barclays analysts expect corporate America to ramp up AI capex in 2026, pointing to Microsoft (Nasdaq: MSFT) and Nvidia (Nasdaq: NVDA) as stocks poised to benefit from the growing demand.
Separately, UBS analysts remain bearish on Tesla (Nasdaq: TSLA) stock and have reemphasized their “sell” rating while revising their year-end 2025 deliveries forecast downward.
Stocks have flipped to green as of late morning trading.
Wall Street Analyst Calls
TD Cowen analysts have upgraded shares of Ametek (NYSE: AME | AME Price Prediction) to “buy” from “hold.”
Piper Sandler analysts like SEI Investments (NYSE: SEI), lifting their rating on the stock to “overweight” from “neutral.”
Canaccord analysts have reemphasized their “buy” rating on Tesla (Nasdaq: TSLA) stock.
The markets were met with strong economic data this morning that they appear to be shrugging off. Despite stronger-than-expected GDP, all three of the major stock market averages came out of the gate lower. Worries that a growing economy will interfere with the Fed’s interest rate path has rocked the markets.
The U.S. economy picked up steam beyond economist expectations thanks to a consumer that continues to spend as well as corporate America’s AI capex. Q3 GDP, which was delayed amid the government shutdown, climbed by a robust 4.3% in the period, the strongest performance in two years and compared with economist forecasts of 3.2% growth. Additionally, consumer spending revved up to 3.5%, up from 2.5% in the prior quarter.
The U.S. government has revealed that tariffs on semiconductor shipments from China will remain at current levels of zero until mid-2027, according to reports. The E-mini PHLX Semiconductor Sector index (SOX) is tacking on 1.1% today.
On the commodities front, copper prices have reportedly hit a fresh all-time high of $2,000 per ton. Gold prices have also entered record territory to above $4,400 per ounce.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 48,324.45 Down 43.30 (-0.09%)
Nasdaq Composite: 23,425.30 Down 7.24 (-0.03%)
S&P 500: 6,876.19 Down 1.45 (-0.02%)
Broad Market Movers
Micron Technology (Nasdaq: MU) is gaining 1.5% as the semiconductor tide moves higher alongside a 1% jump in industry stalwart Intel (Nasdaq: INTC).
First Solar (Nasdaq: FSLR) is down 1.5% on some profit taking.
ServiceNow (NYSE: NOW) is ramping up its cybersecurity capabilities by scooping up a startup called Armis in a multi-billion dollar deal.
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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