The US GDP grew at a slower-than-expected rate of 1.6% in the first quarter, below economists' estimates of 2.4%, marking its slowest pace in nearly two years. This led to Wall Street stocks closing lower as investors were surprised by the weak economic growth and persistent inflation. However, a rally in megacap growth stocks, fueled by robust quarterly results from Alphabet and Microsoft, helped lift US stocks higher in subsequent sessions, resulting in the best week for US stocks since November.
The US economy grew at its slowest pace in nearly two years last quarter. The BEA's advance estimate of Q1 US GDP showed the economy grew at an annualized pace of 1.6% during the period, missing the 2.5% growth expected by economists. https://t.co/oNIgq6cUNB
🇺🇸 U.S. ECONOMIC GROWTH SLOWS, INFLATION RISES IN Q1 2024 The U.S. economy expanded at a 1.6% annualized rate in Q1 2024, below the expected 2.5% and a decrease from 3.4% in Q4 2023, according to the Bureau of Economic Analysis. Key factors include slowdowns in consumer…
US GDP expanded at an annual rate of 1.4% in the first quarter of 2024, slower than expected and much lower than the 3.4% growth seen in the fourth quarter of 2023. https://t.co/kb2rqdrbaU
The best week for U.S. stocks since November closed out with more gains thanks to Alphabet and Microsoft on Friday. https://t.co/L5tGaTrore
WATCH: US stocks closed higher, buoyed by a rally in megacap growth stocks following robust quarterly results from technology heavyweights Alphabet and Microsoft in addition to moderate inflation data https://t.co/93lprqxD36 https://t.co/D9Qbo0FWvz
WATCH: Wall Street’s main indexes closed higher, buoyed by a rally in megacap growth stocks and inflation data that showed only a moderate uptick in US prices https://t.co/93lprqxD36 https://t.co/PkWkOGZo2Q
US stocks closed higher, buoyed by a rally in megacap growth stocks following robust quarterly results from technology heavyweights Alphabet and Microsoft in addition to moderate inflation data https://t.co/OL0f4mjsPr https://t.co/u8kh9QKWmV
I'll share my below-the-hood analysis of the GDP numbers here. Headline real GDP growth for the U.S. came in at +1.6% (annualized q/q) in 1Q24, lower than expected. That's the lower quarterly growth rate since 2Q22. https://t.co/BP6wzThsmt
I'll share my below-the-hood analysis of the GDP numbers here. Headline real GDP growth for the U.S. came in at +1.6% (annualized q/q), lower than expected. That's the lower quarterly growth rate since 2Q22. https://t.co/eTTLmmQ8Id
⚠️ FUTURES CLIMB AS ALPHABET, MICROSOFT RESULTS LIFT MEGACAPS Full Story → https://t.co/lJ93DlYS2X U.S. stock index futures advanced on Friday as megacap growth shares rebounded on the back of robust quarterly results from Alphabet and Microsoft, while investors awaited a key… https://t.co/GYrmi2n0dG
The US economy grew much slower than expected in Q1 at +1.6% vs forecasts of +2.4% and slower than the +3.4% reported in Q4 2023. https://t.co/vun5hNfoOu
WATCH: Wall Street stocks closed lower as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms https://t.co/ODK6IhbZix https://t.co/aZk1cZTFZP
“GDP growth slowed to a 1.6% rate in the first quarter, well below expectations” via @CNBC https://t.co/xaOKRoH3I0
Thanks, Biden. GDP growth slowed to a 1.6% rate in the first quarter, well below expectations. U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace, the Commerce Department reported Thursday. https://t.co/XeMjm9bMyt
WATCH: The US GDP rose 1.6% in the first quarter, well below economists' estimates of 2.4%, at its slowest pace in nearly two years https://t.co/zK55mp4BtK https://t.co/QHuEGZBVOj
The US GDP rose 1.6% in the first quarter, well below economists' estimates of 2.4%, at its slowest pace in nearly two years https://t.co/PBHnIrM5wL https://t.co/KqQD373bT5
WATCH: US stocks closed lower as US economic growth came in softer than forecast, growing at its slowest pace in nearly two years and inflation remained persistent https://t.co/ODK6IhbrsZ https://t.co/fKc1vu88HT
S&P 500 futures pop in overnight trading, boosted by Alphabet and Microsoft: Live updates https://t.co/JxAKRCFWWp