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Economic Data Deluge

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The Dow Jones Industrial Average (DJI) closed at 22,445.37 on Friday, declining 1.8% or 414.23 points. The S&P 500 Index (INX) lost 2.1% to close at 2,416.62. Meanwhile, the Nasdaq Composite Index (IXIC) closed at 6,332.99, shedding 3% or 195.41 points. Decliners outnumbered advancers on the NYSE by 3.57-to-1 ratio. On the Nasdaq, decliners had an edge over advancers by 3.77-to-1 ratio. The CBOE VIX increased 6.1% to close at 30.11.

The Department of Commerce has marginally reduced its estimate for the third quarter 2018 U.S. GDP from 3.5% to 3.4%. This was the third and final estimate of the third quarter GDP. Personal income in November grew 0.2% to $40.2 billion.

The PCE price index increased 1.6% compared with an increase of 2.0% in the second quarter. Excluding food and energy prices, the PCE price index increased 1.6%, compared with an increase of 2.1% in the second quarter. Corporate profits increased $78.2 billion in the third quarter compared with an increase of $65.0 billion in the second quarter. Orders for U.S. durable goods increased 0.8% in November reversing a stiff decline of 4.3% in October. However, business spending plan declined 0.6% in November, its third drop in last four months.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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