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Dow falls 200 points as record GDP growth and encouraging jobless claims fail to soothe trader nerves

30 days ago   |   By Business Insider

Summary List Placement
US equities slid on Thursday, even as economic data pointed to a stronger-than-expected pace of recovery.
The US economy grew at a record 33.1% annualized rate in the third quarter, the Commerce Department said Thursday. The reading exceeded the 32% estimate from economists surveyed by Bloomberg.
Weekly jobless claims fell to 751,000 in the week that ended on Saturday, according to the Labor Department. The reading exceeded the median economist estimate of 770,000.
Tech stocks outperformed ahead of earnings reports from Apple , Amazon , Facebook , and Alphabet after...
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Here's why the record-shattering GDP report obscures the fact that the US economic recovery still has much further to go

Here's why the record-shattering GDP report obscures the fact that the US economic recovery still has much further to go

30 days ago   |   By Business Insider

Summary List Placement
The US economy expanded 7.4% during the third quarter of the year, the Commerce Department reported on Thursday. It's the largest growth rate ever recorded in a three-month period. At an annualized rate, it grew 33.1%.
The government reports gross domestic product figures in an annualized rate, which means it's what would happen if the economy grows or shrinks the same way for a year .
But the big figure veils a critical reality: The nation's economy has not fully recovered from the pandemic - and it still has a long way to go. The latest surge doesn't make up for...
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Weather: Australia swelters through another blistering day of heat in...

Weather: Australia swelters through another blistering day of heat in Sydney, Adelaide

Sydney, Adelaide and chunks of regional NSW sweltered through the hottest November night on record, with no respite likely until late Sunday afternoon. Read more ...

One-year-old boy dies as police shoot at his dad during kidnapping

One-year-old boy dies as police shoot at his dad during kidnapping

The tragedy happened in Ontario, Canada, when three officers shot at the boy's 33-year-old dad, who was seriously injured in the confrontation. The little boy was found fatally... Read more ...

Bottas found Q3 gap to Hamilton ‘confusing'

Bottas found Q3 gap to Hamilton ‘confusing'

Valtteri Bottas could offer no explanation for why he had been comprehensively beaten by Lewis Hamilton for pole position at the Bahrain Grand Prix. The Finn, who has so often... Read more ...

Five talking points ahead of Ireland v Georgia

Five talking points ahead of Ireland v Georgia

The Autumn Nations Cup group phase concludes on Sunday with Ireland playing host to Georgia at the Aviva Stadium. Here's some of the key talking points heading into the Dublin... Read more ...

Ex-Zappos CEO Tony Hsieh has died at 46. Here's how the iconic entrepreneur...

Ex-Zappos CEO Tony Hsieh has died at 46. Here's how the iconic entrepreneur went from selling pizzas from his Harvard dorm to leading the shoe company he sold to Amazon for $1.2 billion

Summary List Placement Zappos CEO Tony Hsieh has died at the age of 46. His death was due to injuries he sustained from a house fire while he was with his brother in... Read more ...

Man dies and five others injured after building collapses in Ireland

Man dies and five others injured after building collapses in Ireland

Emergency services at the scene where a building has partially collapsed, killing a man in his 60s and injuring five othersin Tralee A man has died and five others have been... Read more ...

Lewis Hamilton takes his TENTH pole position of the season for the Bahrain...

Lewis Hamilton takes his TENTH pole position of the season for the Bahrain Grand Prix

Lewis Hamilton started life as a seven-time world champion in perfect fashion by taking a dominant pole position for the Bahrain Grand Prix in front of team-mate Valtteri Bottas. Read more ...

Market-leading iPhone 12 Pro and Pro Max deals for Apple fans who want all...

Market-leading iPhone 12 Pro and Pro Max deals for Apple fans who want all the power

See what you can save on two of the world's dearest devices. If you're after Black Friday deals on the iPhone 12 Pro range, we have the details you need. Read more ...

Ireland v Georgia, Autumn Nations Cup: What time is kick-off, what TV...

Ireland v Georgia, Autumn Nations Cup: What time is kick-off, what TV channel is it on and what is our prediction?

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Snoop Dogg swoops in to save Christmas with epic Just Eat advert and new...

Snoop Dogg swoops in to save Christmas with epic Just Eat advert and new festive song

Snoop Dogg is here and ready to save Christmas with his Just Eat advert Snoop Dogg is here to save Christmas, blessing us with a new festive song and advert for Just Eat . The... Read more ...