Dow Futures Remains Steady

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Dow Futures Remains Steady

Dow Futures Remains Steady Ahead Of Q4 Gdp Release

Most of the USA's stock futures markets remained unchanged during Thursday's session. This calm was due to the upcoming Q4 GDP data and several companies' earnings releases.

As a result, the Dow Futures was seen with a -0.1% change, around 20 points. Similarly, the S& P 500 futures were down by 0.1% or 4 points, while the Nasdaq Futures jumped by 0.1% (17 points). The movement seen in these futures markets was negligible on a grand scale.

2% Gdp Growth Is Expected

Looking ahead, the main focus is now on the Q4 GDP results, which will reveal the growth rate of the US economy in the last three months. Economists say a 2% GDP growth is on the cards during Q4 2023. If accurate, it would significantly decline from the Q3's reading of 4.9%.

Some experts believe that the bullish rally in stocks is driven by the expectations that rate cuts are just around the corner. On the surface, the Fed has achieved its goal of lowering inflation. However, it would still be too soon to make any forecasts about the timing of the rate cuts.

Additionally, weaker GDP growth during the last quarter of 2023 will significantly increase the chances of early rate cuts at the next meetings.

Elsewhere, the earnings season in the USA is also due in a few hours. Some companies that are due to announce their results include American Airlines, Southwest Airlines, Intel, Western Digital, and T-Mobile.

Amidst all this, the one stock that has shocked the markets is Tesla (TSLA), which has lost 8% of its market value in a single day. The shock came after Elon Musk's announcement that vehicle sales will likely slow down in 2024. These comments led to a sell-off in the electric vehicle stocks in the USA and even the Chinese market.

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