U.S. stock-market benchmarks claim Thursday gains despite GDP undershot
U.S. stock indexes roseThursday morning, a disappointing initial reading on the health of the overall economy in the third quarter, which revealed the slowest pace of growth since the 2020 pandemic began.
The data offers a muddled picture of the economic recovery from COVID-19, with the Federal Reserve set to gather next week to update its policy plans. Those results helped to assuage concerns about supply-chain bottlenecks and labor shortages that have dogged companies, and the overall economy, in the aftermath of the COVID-19 pandemic.
Meanwhile, the European Central Bank on Thursday, as expected, left its monetary policy measures unchanged, saying it would continue to purchase assets via its pandemic emergency purchase program at a slower pace than seen in the second and third quarters.