Why it matters
- Real GDP grew at a 3.4% annual rate in the third quarter, up from 2.2% in the second, BEA said on Thursday, Oct. 29. September PCE prices rose 3.6% from a year earlier and core prices 3.1%.
- Nasdaq 100 futures were down about 1.19% and S&P 500 futures 0.40% around 8:50 a.m. ET, Yahoo Finance data showed. December Brent was at about $114.15, down 1.01% from Wednesday's $115.32 settlement, Reuters said.
- Treasury sells $44 billion of 7-year notes at 1 p.m. ET, Freddie Mac posts mortgage rates at noon, Amazon and Intel report after the close, and the Bank of Japan decides overnight.
The day ahead: scheduled events and what forecasters expect.
Updated Oct. 29, after the close: Stocks ended mostly lower, with the Nasdaq Composite down 1.38% and the S&P 500 down 0.30%, Yahoo Finance data showed, as Alphabet sank 12.64%. Treasury sold $44 billion of 7-year notes at a high yield of 4.894% with a bid-to-cover ratio of 2.46, TreasuryDirect results showed. Freddie Mac's 30-year fixed rate fell to 7.24% from 7.32%. December Brent settled down 44 cents at $114.88 a barrel, Reuters reported. After the bell, Amazon forecast fourth-quarter sales of $240 billion to $247 billion and Intel forecast revenue of $15 billion to $16 billion, their releases showed; see our Americas Thursday recap.
The U.S. economy grew at a 3.4% annual rate in the third quarter, up from 2.2% in the second, the Bureau of Economic Analysis said at 8:30 a.m. ET on Thursday, Oct. 29, in its advance estimate. Stock futures fell before the open, led by tech: Nasdaq 100 futures were down about 1.19% and S&P 500 futures 0.40% around 8:50 a.m. ET, according to Yahoo Finance data. Amazon and Intel report after the close, and the Bank of Japan decides overnight.
Where are futures before the open?
| Market, about 8:50 a.m. ET | Level | Change vs. Wednesday |
|---|---|---|
| S&P 500 futures | 7,752.50 | −0.40% |
| Nasdaq 100 futures | 29,622.50 | −1.19% |
| Dow futures | 52,565 | −0.25% |
| 2-year Treasury yield (Wednesday close, Treasury) | 4.67% | −0.03 point vs. Tuesday |
| 10-year Treasury yield (Wednesday close, Treasury) | 5.05% | +0.06 point vs. Tuesday |
| Brent crude, December ($/barrel) | 114.15 | −1.01% |
| WTI crude, December ($/barrel) | 101.34 | −1.40% |
| Gold futures ($/ounce) | 4,032.10 | −0.48% |
| U.S. dollar index | 102.21 | +0.02% |
Source: Yahoo Finance chart data and Treasury. Levels are delayed and approximate; oil changes are from Wednesday's settlements, which Reuters reported at $115.32 for Brent and $102.78 for WTI.
Oil eased as investors weighed renewed diplomatic efforts in the Middle East conflict, Trading Economics said, after President Trump confirmed that mediated talks were underway. Brent is still up more than 17% this month, it said.
Overseas, Asian tech stocks fell on AI spending worries, with China's Shenzhen Component down 2.92%, while the Nikkei rose 1.10%; see our Asia Thursday recap. Europe is in our Europe Thursday recap. On Wednesday the S&P 500 rose 0.28% after the Fed held rates; see our Americas Wednesday recap.
How fast did the U.S. economy grow in the third quarter?
Real GDP grew at a 3.4% annual rate in the July-September quarter, BEA said, after 2.2% in the second quarter. Investment, consumer spending and government spending rose, partly offset by lower exports, it said. Real final sales to private domestic purchasers grew 4.9%, up from 4.6%. The quarterly PCE price index rose at a 2.1% rate, down from 5.0%, and 2.5% excluding food and energy, down from 3.3%.
What did September income and spending show?
Personal income rose 0.2%, or $54.5 billion, in September, and consumer spending rose 0.5%, or $113.1 billion, BEA said. The PCE price index rose 0.5% on the month and 3.6% from a year earlier. Core prices, excluding food and energy, rose 0.3% on the month and 3.1% from a year earlier. The personal saving rate was 3.8%.
| September 2026 | Monthly | From a year earlier |
|---|---|---|
| PCE price index | +0.5% | +3.6% |
| Core PCE price index | +0.3% | +3.1% |
| Personal income | +0.2% | — |
| Consumer spending (PCE) | +0.5% | — |
Source: Bureau of Economic Analysis.
How many people filed for jobless benefits?
Initial jobless claims fell by 1,000 to 194,000 in the week ending Oct. 24, the Labor Department said, seasonally adjusted. The four-week average fell to 196,750. Continuing claims fell by 21,000 to 1,701,000 in the week ending Oct. 17.
What else is on today's calendar?
- Noon ET: Freddie Mac mortgage rates. Freddie Mac publishes its weekly survey on Thursdays at noon. Last week the 30-year fixed rate averaged 7.32% and the 15-year 6.68%, it said.
- 1 p.m. ET: $44 billion 7-year notes. Competitive bids close at 1 p.m., TreasuryDirect shows; the notes are issued Nov. 2 and mature Oct. 31, 2033. The September 7-year sale drew a high yield of 5.085% and a bid-to-cover ratio of 2.42. Treasury also sells $115 billion of 4-week bills and $110 billion of 8-week bills at 11:30 a.m.
- ECB held. The European Central Bank kept its three key rates unchanged, with the deposit rate at 2.50%, its press release said at 13:15 GMT (9:15 a.m. ET). President Christine Lagarde's press conference starts at 9:45 a.m. ET; see our Europe recap.
Which companies report after the close?
Amazon will discuss its third-quarter results on a call at 5 p.m. ET today, the company said. Nasdaq's consensus is $2.01 a share. Intel reports promptly after the market close, with a call at 5 p.m. ET, its release said; consensus is $0.28. Nasdaq's calendar also lists Gilead Sciences, Sandisk, Starbucks, Stryker and Mondelez after the bell. Eli Lilly, Mastercard, Merck, Caterpillar and Shell were listed before the open. Apple is not on today's slate: it reports on Monday, Nov. 2, MacTrast said, citing Apple's investor relations site.
When does the Bank of Japan decide?
The Bank of Japan ends its two-day meeting on Friday, Oct. 30, and releases its Outlook Report the same day, its schedule shows. Trading Economics lists the decision at about 03:00 GMT, which is 11 p.m. ET on Thursday. The policy rate is 1.25% after a quarter-point hike on Sept. 18, and the consensus is no change, it said.
| Date | Event |
|---|---|
| Thu., Oct. 29 | GDP, income and outlays, jobless claims (8:30 a.m.); Freddie Mac (noon); 7-year auction (1 p.m.); Amazon and Intel after the close |
| Fri., Oct. 30 | Bank of Japan decision and Outlook Report (Tokyo time) |
| Mon., Nov. 2 | Apple results after the close |
Sources: BEA, Labor Department, TreasuryDirect, Freddie Mac, Bank of Japan and company releases. Times are ET unless noted.
Upcoming releases are on our market calendar. U.S. clocks move back one hour on Sunday, Nov. 1.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- Bureau of Economic Analysis, GDP (advance estimate), 3rd quarter 2026 (Oct. 29, 2026)
- Bureau of Economic Analysis, Personal income and outlays, September 2026 (Oct. 29, 2026)
- U.S. Department of Labor, Unemployment insurance weekly claims (Oct. 29, 2026)
- TreasuryDirect, upcoming auctions and 7-year note auction results
- U.S. Treasury, daily par yield curve rates
- Freddie Mac, Primary Mortgage Market Survey
- Reuters via Investing.com, Oil prices rise on Yemen fighting, Saudi refinery attack (Oct. 28, 2026)
- Trading Economics, Brent crude oil and Japan interest rate
- Bank of Japan, Monetary Policy Meetings schedule
- European Central Bank, Monetary policy decisions (Oct. 29, 2026)
- Amazon, Amazon will share its Q3 2026 earnings on October 29
- Intel, Intel to report third-quarter 2026 financial results (Oct. 6, 2026)
- MacTrast, Apple to announce fiscal Q4 2026 earnings on November 2
- Nasdaq, earnings calendar for Oct. 29, 2026
- Reuters via Investing.com, Oil prices settle lower as diplomacy hopes offset some Mideast supply concerns (Oct. 29, 2026)
- Amazon, third-quarter 2026 results (SEC filing) and Intel, third-quarter 2026 results (SEC filing)
- Yahoo Finance, daily chart data for the S&P 500, Nasdaq Composite and Alphabet
- Yahoo Finance, chart data for S&P 500 futures, Nasdaq 100 futures, Dow futures, Brent December, WTI December, gold futures and the U.S. dollar index