The U.S. stock market opened with a mixed tone on Thursday as investors carefully analyzed the latest economic figures. According to data from FactSet, the Dow Jones Industrial Average (DJIA) started the day up by about 0.1%, while the S&P 500 (SPX) and the Nasdaq Composite (COMP) experienced slight declines of 0.2%.
Gross domestic product (GDP) in the U.S. expanded at an annual rate of 4.9% in the third quarter, based on an estimate provided by the Bureau of Economic Analysis on Thursday. This growth rate exceeded economists’ expectations, who had forecast a jump of 4.7% for the same period, as reported by the Wall Street Journal.
Meanwhile, the Labor Department reported that initial jobless claims in the U.S. rose by 10,000 to reach 210,000 in the week ending Oct. 21. Although there was a slight increase, jobless claims remain at relatively low levels.
In the bond market, the yield on the 10-year Treasury note decreased by approximately two basis points to around 4.92%, according to FactSet data at last check.
