World Economic News As of October 27, 2023
According to a report by The Associated Press, the US stock market closed lower on Friday, October 27, 2023. The S&P 500 fell by 0.5%, while the Dow Jones Industrial Average fell by 1.1% and the Nasdaq composite rose by 0.4%. The Russell 2000 index of smaller companies fell by 1.2% 1. The S&P 500 is down by 2.5% for the week, while the Dow is down by 2.1% and the Nasdaq is down by 2.6%. The Russell 2000 is down by 2.6% for the week
Here’s a table of US stock indices as of October 27, 2023:
Index Value Change Change %
S&P 500 4,117.37 -19.86 -0.48%
Dow Jones Industrial Average 32,417.59 -366.71 -1.12%
Nasdaq Composite 12,643.01 +47.41 +0.38%
Russell 2000 1636.94 -20.07 -1.21%
As for world economic news on October 28, 2023, according to a report by Bloomberg, US underlying inflation picked up along with consumer spending as the third quarter drew to a close 1. Consumer price growth also gathered pace in Tokyo, an indicator of nationwide inflation 1. Bank of Japan officials also meet next week 1. In the UK, fresh data showed employment declined for a third month 1. Meantime, Israel’s central bank reduced growth estimates for this year and 2024 as the nation’s war with Hamas restrains activity
Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:
The Fed’s preferred measure of underlying inflation accelerated to a four-month high in September and consumer spending picked up, keeping the door open to another interest-rate hike in the months ahead
The core personal consumption expenditures price index, which strips out the volatile food and energy components, rose 0.3% while inflation-adjusted household outlays rose 0.4%
The US economy grew at the fastest pace in nearly two years last quarter on a burst of consumer spending
Consumer price growth in Tokyo unexpectedly quickened for the first time in four months in October 1
South Korea’s early exports returned to growth for the first time in more than a year in another indication of recovering external demand that will offer some reassurance to investors and policymakers monitoring the health of global commerce
Chinese President Xi Jinping stepped up support for the world’s second-biggest economy, issuing additional sovereign debt, raising the budget deficit ratio and even making an unprecedented visit to the central bank