【今日单词】
oscillate /ˈɒsɪleɪt/
verb
move or swing back and forth in a regular rhythm.
"the grain pan near the front of the combine oscillates back and forth"
----------------------------
原文如下：
The day in the markets
by George Steer and Harriet Clarfelt
(来自：The Financial Time 金融时报)
What you need to know
• Wall Street stocks oscillate after US GDP rebounds
• Shares in Meta slide after Facebook owner reports declining revenues
• Core government bonds attract buyers on both sides of Atlantic
Wall Street stocks struggled for direction in choppy trading yesterday after a fresh gross domestic product report showed that the world’s largest economy expanded in the third quarter.
The S&P 500 was down 0.1 per cent by late morning in New York, erasing earlier gains, while the technology-heavy Nasdaq Composite fell 1 per cent.
Those moves came after data showed the US economy grew in the third quarter, having contracted for the first six months of the year.
GDP increased 2.6 per cent on an annualised basis between July and September compared with economists’ expectations of a rise of 2.4 per cent.
In government bond markets, the yield on the 10-year US Treasury note dipped 8 basis points to 3.93 per cent, down from a high of more than 4.3 per cent earlier this month.
Jim Paulsen, chief investment strategist at The Leuthold Group, said fears of a recession in the US were slowly overtaking concerns that the Fed had lost control of inflation.
“The force behind [this month’s] moves higher for stocks is the idea the tightening cycle is about over,” said Paulsen. “The Fed may not have blinked yet but maybe the bond market has and that seems to be enough for equities.”
Investors have also been watching the latest flurry of quarterly corporate earnings closely for signs of strain from rapid price growth and rising borrowing costs, against an increasingly challenging economic backdrop.
Shares in Facebook owner Meta tumbled more than 22 per cent yesterday after the company reported another quarter of declining revenues, joining other Big Tech groups in warning that an economic slowdown was hitting its advertising businesses.
Across the Atlantic, the benchmark Stoxx Europe 600 index finished flat.
The European Central Bank raised interest rates 0.75 percentage points in its latest effort to tackle inflation, pushing its deposit rate to 1.5 per cent — the highest level since 2009.
The yield on the 10-year German Bund fell 2bp to 1.95 per cent. The Italian 10-year yield dropped 3bp to just over 4 per cent as the debt instrument’s price climbed.
The dollar strengthened 0.6 per cent against a basket of six peers while sterling declined 0.4 per cent against the US currency to $1.1580.
