Economy grows, chip tariff delay, new S&P 500 record and more in Morning Squawk
Here are five key things investors need to know to start the trading day.
TL;DR
- U.S. economy grew 4.3% in the third quarter, exceeding expectations.
- Consumer spending increased by 3.5% in Q3, showing resilience.
- Holiday retail spending rose 4.2%, with e-commerce and electronics leading.
- 37% of Americans incurred holiday debt, averaging $1,223.
- The S&P 500 hit a new record, boosted by tech sector gains.
- U.S. stock markets closed early at 1 p.m. ET for Christmas Eve.
- Bond markets closed at 2 p.m. ET for Christmas Eve.
- The Trump administration will begin garnishing wages of defaulted student loan borrowers in early January.
- U.S. plans to delay increased tariffs on Chinese semiconductor imports until June 2027.
- ServiceNow will acquire cybersecurity startup Armis for $7.75 billion.