— S&P 500 earnings for 3rd quarter 2024 are expected to rise by 3.4% (vs. 3rd quarter 2023), the slowest rate of growth since Q2 2023 (-4.2%).
— The U.S. federal budget deficit topped $1.8 trillion in fiscal 2024; interest on the national debt is now more than $1 trillion annually.
— U.S. retail sales for Sept. (not adjusted for inflation) rose 0.4%, better than expected; inflation was up 0.2% for the month.
— China’s economy grew 4.6% in the 3rd quarter, the second quarter in a row that growth has fallen below the 5% target; Chinese home prices fell in Sept. at fastest pace in a decade.
— The U.S. Dept. of Energy announced $900 million in funding to support development of small nuclear reactors to meet surge in demand for electricity and clean energy.
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