New York (CNN) — US stocks closed lower Thursday after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected.
Treasury yields finished at their highest levels since November on Thursday, after data showed core PCE inflation came in hot for the first quarter even as U.S. growth slowed to 1.6%.
Oil prices could rise to $102 per barrel if a major conflict in the Middle East breaks out involving one or more oil producers, according to the World Bank.
Real GDP increased at an annual rate of 1.6% for the January-through-March period after rising 3.4% in the fourth quarter of 2023, according to the BEA's advance estimate released Thursday.
“Unsustainable budget deficits” and “persistent inflation” have HashKey Capital analysts predicting a $100,000 to $200,000 Bitcoin price by the end of 2024.
Fresh data released Thursday morning showed that he US economy's growth slowed to 1.6% in the first three months of 2024, sending markets into a tailspin.
A surprisingly high inflation reading in the first quarter has raised anxiety about whether a key price index in March could be worse than expected and could lower the odds of U.S. interest-rate cuts.