S&P INTRADAY - Stronger Growth, Labour Market ResilientUS Q4 GDP (Annualized) came in at 2.4%, beating forecasts of 2.3%, signalling resilient economic growth despite higher interest rates. A stronger-than-expected economy supports corporate earnings but may also reinforce the Fed’s cautious stance on rate cuts.
Initial Jobless Claims (4-week average) declined to 224K from 227K, pointing to continued labor market strength. A tight job market supports consumer spending, which is crucial for corporate revenue but may keep inflationary pressures elevated, influencing Fed policy expectations.
Market Impact:
S&P 500: The better-than-expected GDP and healthy labor market data suggest economic momentum remains intact, supporting corporate earnings and risk appetite. However, persistent strength may delay Fed rate cuts, potentially leading to market volatility.
Key Support and Resistance Levels
Resistance Level 1: 5780
Resistance Level 2: 5844
Resistance Level 3: 5920
Support Level 1: 5660
Support Level 2: 5604
Support Level 3: 5540
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