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Treasury Secretary Scott Bessent believes the Federal Reserve’s inflation target of 2% should be revised, suggesting on a podcast the central bank widen its threshold to a range once consumer prices revisit that level. The annual inflation rate currently hovers at 2.7%.
The major stock market averages are now seeing green across the board.
Barclays analysts expect corporate America to ramp up AI capex in 2026, pointing to Microsoft (Nasdaq: MSFT) and Nvidia (Nasdaq: NVDA) as stocks poised to benefit from the growing demand.
Separately, UBS analysts remain bearish on Tesla (Nasdaq: TSLA) stock and have reemphasized their “sell” rating while revising their year-end 2025 deliveries forecast downward.
Stocks have flipped to green as of late morning trading.
TD Cowen analysts have upgraded shares of Ametek (NYSE: AME) to “buy” from “hold.”
Piper Sandler analysts like SEI Investments (NYSE: SEI), lifting their rating on the stock to “overweight” from “neutral.”
Canaccord analysts have reemphasized their “buy” rating on Tesla (Nasdaq: TSLA) stock.
Live coverage has ended. The full story is below.
The markets were met with strong economic data this morning that they appear to be shrugging off. Despite stronger-than-expected GDP, all three of the major stock market averages came out of the gate lower. Worries that a growing economy will interfere with the Fed’s interest rate path has rocked the markets.
The U.S. economy picked up steam beyond economist expectations thanks to a consumer that continues to spend as well as corporate America’s AI capex. Q3 GDP, which was delayed amid the government shutdown, climbed by a robust 4.3% in the period, the strongest performance in two years and compared with economist forecasts of 3.2% growth. Additionally, consumer spending revved up to 3.5%, up from 2.5% in the prior quarter.
The U.S. government has revealed that tariffs on semiconductor shipments from China will remain at current levels of zero until mid-2027, according to reports. The E-mini PHLX Semiconductor Sector index (SOX) is tacking on 1.1% today.
On the commodities front, copper prices have reportedly hit a fresh all-time high of $2,000 per ton. Gold prices have also entered record territory to above $4,400 per ounce.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 48,324.45 Down 43.30 (-0.09%)
Nasdaq Composite: 23,425.30 Down 7.24 (-0.03%)
S&P 500: 6,876.19 Down 1.45 (-0.02%)
Micron Technology (Nasdaq: MU | MU Price Prediction) is gaining 1.5% as the semiconductor tide moves higher alongside a 1% jump in industry stalwart Intel (Nasdaq: INTC).
First Solar (Nasdaq: FSLR) is down 1.5% on some profit taking.
ServiceNow (NYSE: NOW) is ramping up its cybersecurity capabilities by scooping up a startup called Armis in a multi-billion dollar deal.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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