Thursday’s Economic Calendar

Gross Domestic Product represents the total value of the country's production during the period and consists of the purchases of domestically-produced goods and services by individuals, businesses, foreigners, and government entities.

The consensus sees GDP growth at 3.1 percent in Q3, up from 2.2 percent in Q2. The strong showing reflects extraordinary capex due to the AI buildout, while the rest of the economy remains weak.

8:30 AM Jobless Claims

New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time.

Another steady claims reading is expected at 198K, remaining below 200K, suggesting remarkable resilience in the job market.

8:30 AM Personal Income and Outlays

Personal income represents the income that households receive from all sources, including wages and salaries, fringe benefits such as employer contributions to private pension plans, proprietors' income, income from rent, dividends and interest, and transfer payments such as Social Security and unemployment compensation.

PCE prices to remain elevated with a total up of an ugly 3.6 percent and core up 3.0 percent in September. That’s not the 2.0 percent Fed Chair Kevin Warsh promised. Meanwhile, spending continues strong even as consumers say they are not inclined to spend money. The consensus sees nominal sales up 0.5 percent on the month!

10:30 AM EIA Natural Gas Report

The Energy Information Administration provides weekly information on natural gas stocks in underground storage for the U.S. and five regions of the country.

1:00 PM 7-Yr Note Auction

Treasury notes are sold at regularly scheduled public auctions. The competitive bids at these auctions determine the interest rate paid on each Treasury note issue.

4:30 PM Fed Balance Sheet

The Fed's balance sheet is a weekly report presenting a consolidated balance sheet for all 12 Reserve Banks that lists factors supplying reserves into the banking system and factors absorbing reserves from the system.