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Stock market live updates: Dow drops 300, Now red for January, Amazon up 9% to $1 trillion
Author: DuaneHarpur
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China’s Economic Data Added Worries to Global Growth Outlook
Released earlier today, China’s GDP growth fell below +7% for the first time since 2009. Expanding at a rate of +6.9% y/y in 3Q15, China is not only at risk of missing the official growth target of +7% this year, but has also raised concerns over the global economic outlook. Other indicators were also disappointing with IP growth moderating to +5.7% y/y in September from +6.1% a month ago.
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China’s Economic Data Added Worries to Global Growth Outlook -
Equities Lifted by Upbeat US Data; ECB in Focus
Wall Street gained solidly as some encouraging macroeconomic data buoyed sentiment. DJIA and S&P 500 indices rose +1.82% and +1.83% respectively. US non-farm productivity rose more than expected while mortgage application soared. Although ADP’s employment missed expectations, the increase remained solid. In the commodity sector, gold dropped on improvement sentiment and strength in USD.
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Equities Lifted by Upbeat US Data; ECB in Focus