4E: US GDP growth in the third quarter was lower than expected, and the "small non-farm" was stronger than expected

According to ChainCatcher news, the latest data released by the United States on Wednesday showed that the GDP growth rate in the third quarter slowed slightly and fell short of expectations, while the ADP employment data in the United States, known as the "mini non-farm payroll", far exceeded expectations, reaching the highest level in more than a year. The data was mixed, reflecting the continued uncertainty in the US economy.

According to 4E monitoring, US stocks rose across the board in early trading, but then plummeted, with the Nasdaq falling 0.56% after hitting a new intraday high, the Dow Jones falling 0.22%, and the S&P 500 index falling 0.33%. Most of the "Tech Seven Sisters" and AI concept stocks fell. The cryptocurrency market saw a Trump trade boost, with Bitcoin approaching its all-time high before retreating, currently hovering around $72,000. As of the time of writing, Bitcoin is reported at $72,245, down 0.23%, and Ethereum is at $2,652, up 0.71%.

In the foreign exchange and commodity markets, the US dollar index briefly rose to a intraday high of 104.44, but then turned lower, ultimately closing down 0.17%, as the market lowered its expectations for a significant rate cut by the European Central Bank in December, and the euro rebounded against the US dollar, closing up 0.35%. The uncertainty surrounding the US election and the instability of geopolitics have provided support for safe-haven assets such as gold, with spot gold prices setting a new record high on Wednesday, closing up 0.43%. Unexpected declines in US EIA crude oil inventories, coupled with reports that OPEC+ may delay its oil production increase plan, led to gains in international oil prices on Wednesday, with WTI crude oil closing up 2.31% and Brent up 2.3%.

The latest data shows that the US economic growth rate unexpectedly slowed, with inflation and consumption higher than expected. The more comprehensive and closely watched October non-farm payroll report will be released on Friday, and the market generally expects the Fed's pace of rate cuts will not change, with a further 25 basis point cut expected at the November 7-8 meeting. Meanwhile, the US election is entering a critical stage, with the latest polls showing voters tend to give Trump better grades on the economy, and global investors are betting on Trump winning the US election next week. Regardless of the outcome, the market is expected to see greater volatility as election day approaches. eeee.com is a financial trading platform that supports cryptocurrencies, stock indices, bulk gold, foreign exchange and other assets, and has recently launched a USDT stablecoin wealth management product with an annualized yield of 5.5%, providing investors with a potential hedging option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.