On October 29, the U.S. Commerce Department reported third-quarter GDP grew 3.4%, above the 3.2% forecast by economists in a Reuters poll. Consumer spending, which accounts for more than two-thirds of GDP, rose 3.8%, and business AI-related investment offset the impact of higher oil prices from the Middle East conflict. However, household sentiment remains gloomy, with President Donald Trump's approval rating at a record low and consumer confidence sharply lower, while gasoline still exceeds $4 a gallon (about $1.06 a liter), and the report came less than a week before midterm elections. The Fed held its rate at 3.75%-4% and acknowledged inflation “remains elevated,” with economists forecasting a rate hike in December. Some economists argue strong growth may not reflect the true economic picture as AI spending dominates, and expect consumer spending to slow.
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Original headline: Kinh tế Mỹ tăng trưởng vượt dự báo
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Related tickers and likely impact
DXY
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/28/2026 | 102.14 |
| Change that session | -0.22% |
SPY
▲ Likely positiveSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 772.31 |
| Change that session | +0.34% |
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