Thursday's Markets Update (March 30, 2023)

31 Mar 2023 by rate3

On Thursday, BEA released Q4 2022 'back-view mirror' data on the GDP's QoQ growth, which showed a 2.6 percent increase (versus 3.2 in Q3) and corporate profits, which decreased by 2.7 percent to 2.47T (up 0.8 from Q3). Additionally, the DOL reported that unemployment benefits had risen from 191K to 198K.

By confirming the relative resilience of economic agents, with unemployment remaining 'affordable' according to Fed standards, it did not bring any tradable news. The markets reacted accordingly, with NASDAQ (o:12010, c:12013) and BTC (o:28646, c:27986) ranging.