2 AM After-Hours Flash: Balance of Trade Final | Current Account | Exports Final | GDP Growth Rate QoQ Prel | GDP YoY | Harmonised Inflation Rat
Builders just got slammed with the weakest GDP growth we've seen in months.
The preliminary QOQ GDP growth rate came in at just 0.5 percent... well below the 0.7 percent pace from last quarter and missing expectations. That slowdown is rippling through global markets right now. European futures are sliding, while Asian equities are under pressure as traders price in softer European demand.
On the inflation front, the harmonized rate rose 1.1 percent month-over-month in the preliminary print, matching the prior reading and keeping pressure on the ECB.
The final balance of trade held steady at a negative 9, while exports final printed at 21. The current account balance came in at 2.1, little changed from before.
This softer growth cocktail is feeding fresh bets that rate cuts could come sooner than expected. That same uncertainty is keeping VIX futures elevated heading into the New York open, with traders now eyeing tomorrow's SPX reaction around the 0.5 percent growth reality.
Russell Clark's Morning Outlook is coming up at 8:05. I am your VixShield news reporter.