FX.co ★ US Stocks Hold Weekly Gains

In a shortened trading session on Wednesday, futures linked to U.S. equities edged slightly higher, maintaining the gains made earlier in the week amid optimistic expectations for next year's earnings prospects given the current economic environment. The S&P 500 was poised to open at a new high, with the Dow and Nasdaq 100 also set to rise modestly. The initial estimate for third-quarter GDP growth, released yesterday, exceeded forecasts, showing a robust annualized expansion of 4.3%. This strong growth was driven by healthy private consumption, alleviating concerns that tariffs had curtailed spending or sparked inflationary pressures. Technology giants managed to sustain their momentum from the week's start, despite ongoing doubts about potentially inflated valuations in the sector. However, Intel appeared set to decline by more than 3% following reports that Nvidia had discontinued a test involving Intel's equipment for chip production. Markets will be closed on Thursday in observance of the Christmas holiday.