Holiday Calm Amid GDP Strength

Prior Close
Asset	Level	Days Change
S&P 500	6,933.90	+0.35%
Nasdaq	23,613.31	+0.22%
Spot VIX	14.16	+5.12%
2 Year Bond Yield	3.51	-1 bps
10 Year Bond Yield	4.14	+2 bps
EUR/USD	1.1780	+0.01%
USD/JPY	156.36	+0.27%
GBP/USD	1.349	-0.03%
WTI Oil	58.38	+0.64%
Gold	4,514.87	+0.76%
Bitcoin	88,567.70	+1.60%

Prior Economic Events

Data	Prior	Cons	Actual
No events available

Today's Economic Events

Data	Prior	Cons	Time
No events available

Q3 GDP surged 4.3% annualized, beating expectations and highlighting robust consumer spending despite inflation.
Consumer confidence plunged in December, reflecting tariff anxieties and potential growth slowdown.
Gold and silver hit record highs, driven by safe-haven demand amid geopolitical tensions.

Yesterday's Recap

Q3 GDP expanded at a surprising 4.3% annualized rate, surpassing the 3.0% consensus and up from 3.8% in Q2, fueled by resilient consumer spending that rose to a 3.5% pace.
Consumer confidence slumped to 89.1 in December, the lowest in nearly four years, with expectations for income and jobs deteriorating amid tariff fears.
Initial jobless claims fell to 214,000, beating estimates of 223,000, signaling labor market stability despite broader uncertainties.
Markets closed higher on Wednesday, with the S&P 500 at 6,933.90 and Nasdaq at 23,613.31 in calm conditions, while VIX stood at 14.16.
Bond yields held steady, with 2-year at 3.51% and 10-year at 4.14%, as rate cut expectations tempered moves.
FX showed EUR/USD at 1.1780 and USD/JPY at 156.36, with commodities like gold rising to 4,514.87 and WTI oil at 58.38. (cont...)

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Yesterday's Recap (continued)

Bitcoin edged up to 88,567.70, reflecting subdued volatility.

The Day Ahead

No major US economic data releases are scheduled for Friday, leaving markets focused on holiday-thin volumes and potential geopolitical updates from Middle East tensions.
Investors will watch for any weekend news, particularly around US-Venezuela relations that could influence oil prices.
With year-end positioning, attention may turn to early January signals on Fed policy and global growth.

Other Economic Notes

Global digital economy advancements in the MENA region, driven by instant payments and fintech innovation, signal potential spillover benefits for US trade partners.
Persistent US government shutdown risks may dampen Q4 growth, extending consumer fatigue from high inflation.
Precious metals' rally underscores safe-haven demand, contrasting with Bitcoin's steady gains amid low volatility.

Fed Watch

In the rate cutting cycle, recent strong GDP and lower jobless claims suggest fewer cuts may be needed in 2025, favoring a slower pace to avoid overheating.
Fed officials likely remain data-dependent, with Powell's emphasis on inflation cooling supporting continued easing but at a measured rate.
Markets pricing 84.5% chance of no January cut reflect cautious optimism, tilting neutral amid resilient economic signals.
Dovish lean persists, but any weakness in upcoming data could prompt more aggressive reductions.

US Macro Daily(Beta Mode)