Global Market Update – Better than expected US Q3 GDP and Personal Consumption data lifted US market up to 1% …Dollar Index surging to 2-year high …Share of Accenture is up 7%...INFY ADR up by 3%
· US stocks kicked off Thursday’s session higher, suggesting that the selloff after the Federal Reserve signaled fewer rate cuts next year was overdone. The yen slid as the Bank of Japan left borrowing costs unchanged. The S&P 500 rose 1% following its biggest loss for a scheduled Fed decision day since 2001. The Nasdaq 100 jumped 0.9%. The 10-year US Treasury yield rose to 4.54%, a level last seen in May. US Q3 GDP reported better than expectation at 3.1% vs 2.8% previous quarter, better than Bloomberg estimated of 2.8%. Personal Consumption surged to 3.7% vs 3.5% previous quarter, better than Bloomberg estimated of 3.6%.
