• Wed. Nov 30th, 2022

US GDP Might Contract By This Much In Second Quarter, Here Are The Major Macro Issues For Thursday – Microsoft (NASDAQ:MSFT), Amazon.com (NASDAQ:AMZN)

ByLisa Levin

Sep 29, 2022
US GDP Might Contract By This Much In Second Quarter, Here Are The Major Macro Issues For Thursday - Microsoft (NASDAQ:MSFT), Amazon.com (NASDAQ:AMZN)

U.S. stocks closed higher on Wednesday with the Nasdaq Composite climbing more than 200 points amid a rise in Amazon.com, Inc. AMZN and Microsoft Corporation MSFT shares.

Let’s have a look at the major economic events scheduled for today.

  • Gross Domestic Product report for the second quarter is scheduled for release at 8:30 a.m. ET. The third estimate of Q2 GDP, at a minus 0.6% consensus, is likely to show no change versus the second estimate.
  • Data on initial jobless claims for the latest quarter will be released at 8:30 a.m. ET. Jobless claims are projected to come in at 218,000 for the September 24 week compared to 213,000 in the previous week.
  • The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET.
  • The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
  • Federal Reserve Bank of Cleveland President Loretta Mester is set to speak at 1:00 p.m. ET.
  • Federal Reserve Bank of San Francisco President Mary Daly will speak at 4:45 p.m. ET.

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Image and article originally from www.benzinga.com. Read the original article here.