Yields and prices have an inverted relationship and one basis point equals 0.01%.A series of key economic reports are expected on Thursday, which investors will be scanning for clues about the state of and outlook for the U.S. economy. Many are concerned about potential pressures from high inflation and elevated interest rates weighing on the economy.
Gross domestic product data for the last quarter of 2022 is expected, as are durable goods orders and home sales reports for December. Weekly initial jobless claims data is also due. Investors will also be closely following further earnings reports, paying especially close attention to corporations' future guidance, which could hint at their expectations for the economy. American Airlines and Intel are among those reporting Thursday.
Fears of a recession have grown louder in recent months as many investors believe the pace of the Federal Reserve's interest rate hikes could lead to the economy contracting. The Fed is next meeting on Jan. 31 and Feb. 1. Markets are expecting the central bank to further increase interest rates by 25 or 50 basis points as its battle with persistent inflation continues.
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