{"id":77433,"date":"2022-12-22T20:39:00","date_gmt":"2022-12-22T16:39:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=77433"},"modified":"2022-12-22T20:25:22","modified_gmt":"2022-12-22T16:25:22","slug":"wall-street-slides-on-positive-us-economic-data","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/wall-street-slides-on-positive-us-economic-data\/12\/22\/market-updates\/","title":{"rendered":"Wall Street slides on positive US economic data"},"content":{"rendered":"\n<p>Wall Street&#8217;s major indexes dropped on Thursday after fresh US economic data underlined the US economy\u2019s strength and erased concerns over the Federal Reserve&#8217;s continued monetary policy tightening.<br><br>Losses in rate-sensitive megacap growth stocks such as Apple Inc., Microsoft Corp and Amazon.com Inc pulled technology and consumer discretionary shares lower.<br><br>The final estimate of third-quarter U.S. GDP revealed gross domestic product increased at a 3.2% annualized rate, above the previous estimate of 2.9%.<br><br>Meanwhile, a Labour Department report showed the number of Americans filing for state unemployment benefits increased to 216,000 last week, much below economists&#8217; estimate of 222,000, indicating a still tight labor market.<br><br>The GDP data beat a lot of expectations. There are concerns that the economy is not giving up too easily and it&#8217;s putting up a fight that will likely require the Fed to remain hawkish and keep interest rates higher for longer.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street&#8217;s major indexes dropped on Thursday after fresh US economic data underlined the US economy\u2019s strength and erased concerns over the Federal Reserve&#8217;s continued monetary policy tightening.Losses in rate-sensitive megacap growth stocks such as Apple Inc., Microsoft Corp and Amazon.com Inc pulled technology and consumer discretionary shares lower.The final estimate of third-quarter U.S. GDP &hellip;<\/p>\n","protected":false},"author":13,"featured_media":61273,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[194,7826,7587],"class_list":["post-77433","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-gdp","tag-q3","tag-us-stocks"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=77433"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77433\/revisions"}],"predecessor-version":[{"id":77439,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77433\/revisions\/77439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61273"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=77433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=77433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=77433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}