EconoTicker

The U.S. economy demonstrated solid growth in Q3 2024, with GDP expanding by 2.8% quarter-over-quarter, slightly below the expected 3.0% but indicating continued resilience. The GDP Price Index rose 1.8%, a touch below the forecasted 1.9%, signaling moderate inflation pressures.

Consumer demand remained robust, with Real Consumer Spending increasing by 3.7%, a notable improvement over last quarter’s 2.8%. Core PCE Prices, a key inflation gauge, rose 2.2%, marginally higher than anticipated (2.1%), while overall PCE Prices grew by 1.5%, well below last quarter’s 2.5%. These figures suggest inflation is easing somewhat, while the economy sustains healthy growth in consumer activity.

Eli Lilly (LLY) reported Q3 2024 earnings with an EPS of $1.18, missing the forecast of $1.45, and revenue at $11.44 billion, below the expected $12.09 billion. With a market cap of $813.61 billion, the results reflect a challenging quarter despite the company’s strong market position.

Advanced Micro Devices (AMD) reported Q3 2024 earnings with an EPS of $0.92, meeting analyst expectations. Revenue came in at $6.82 billion, slightly above the forecasted $6.71 billion. AMD’s current market capitalization is approximately $269.07 billion, indicating steady performance and market confidence in the tech company.

Visa Inc. (V) posted strong Q3 2024 earnings, with an earnings per share (EPS) of $2.71, exceeding the forecasted $2.58. Revenue for the quarter was reported at $9.6 billion, slightly ahead of the anticipated $9.49 billion. Visa’s market cap currently stands at approximately $536.24 billion, reflecting its sustained growth and market position.

Alphabet Inc. reported robust Q3 2024 results, with earnings per share (EPS) of $2.12, surpassing the projected $1.84. The company's quarterly revenue reached $88.27 billion, outperforming the expected $86.37 billion. Alphabet's current market capitalization stands at approximately $2.1 trillion, reflecting its solid position and performance this quarter.

Ukrainian President Volodymyr Zelensky has reportedly included a request for Tomahawk cruise missiles in an unpublished section of his "victory plan," as revealed by the New York Times. These missiles have a range of over 2,400 kilometers, significantly surpassing that of the long-range ATACMS missiles.

However, a U.S. official described the request as "completely impossible," indicating that Zelensky's plans may not align with current military capabilities or geopolitical realities. The report also noted that the targets listed for potential strikes on Russian territory exceed the number of missiles that Western allies could realistically supply. Zelensky expressed surprise at not receiving permission to utilize long-range weaponry in Ukraine's counteroffensive efforts.

In September, JOLTS Job Openings fell to 7.443 million, below the forecasted 7.980 million and the previous month’s 7.861 million. This decrease indicates a slight cooling in the U.S. job market, suggesting potential easing in labor demand amidst current economic conditions.

The CB Consumer Confidence Index for October came in at 108.7, significantly exceeding both the forecasted 99.5 and the previous month's 99.2. This stronger-than-expected result suggests an increase in consumer optimism, reflecting positive sentiment toward the current economic environment.

PayPal (PYPL) reported earnings per share (EPS) of $1.20, surpassing the forecasted $1.07. Revenue for the quarter totaled $7.85 billion, slightly below the expected $7.88 billion. PayPal's market capitalization is $85.46 billion. This earnings beat underscores the company’s resilience, despite the modest revenue shortfall.

Pfizer (PFE) reported an earnings per share (EPS) of $1.06, significantly exceeding expectations of $0.6153. The company’s revenue for the quarter was $17.7 billion, well above the anticipated $14.92 billion. Pfizer's market capitalization stands at $163.54 billion. This robust performance reflects strong demand for its products and effective operational strategies.

McDonald’s (MCD) reported an earnings per share (EPS) of $3.23, surpassing expectations of $3.20. The company’s revenue for the quarter reached $6.87 billion, slightly above the anticipated $6.82 billion. McDonald’s market capitalization stands at $212.9 billion. This strong performance indicates continued growth and consumer demand for the brand.

• In September, the U.S. Goods Trade Balance recorded a larger-than-expected deficit of -$108.23 billion, compared to the forecasted -$95.90 billion. 
• Wholesale Inventories decreased slightly by -0.1%, falling short of the anticipated 0.2% increase, while Retail Inventories (excluding autos) rose marginally by 0.1%, below the previous 0.5% figure.
• The Redbook Index (YoY) showed an uptick, rising from 4.6% to 5.6% as of October 25, indicating stronger retail sales. 
• Housing market data also demonstrated resilience, with the S&P/Case-Shiller Home Price Index climbing to 5.2% YoY, surpassing expectations, and the Housing Price Index (MoM) posting a 0.3% increase in August, above the forecasted 0.1%. 

These data collectively highlight a mixed economic picture, with increased consumer prices and a slight deceleration in inventory growth amidst a widening trade deficit.