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CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

Beat the street: US second Q3 GDP estimate; rate hike hopes; General Motors; Amazon eyes pre-loved

US stocks are indicated marginally higher after the US second Q3 GDP estimate, as investors begin to accelerate bets on a Fed rate cut in early 2024. IGTV's @AngelineOng looks at why Amazon is loving ‘pre-loved’ in UK and Europe.

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(Partial Video Tanscript)

US stocks lift amid hopes for rates cut

Hello, I'm Angeline Ong, and welcome to beat the street, the show that gives you all the tradeable news and data you need ahead of the Wall Street Open.

Coming up, US stocks are edging higher as those expectations of US interest rates cut grow. And economic data in focus, we've got the second estimate of the US gross domestic product (GDP) figure and the base book on debt.

Pre-loved sector boosts Amazon's bottom line

And pre-loved: Amazon is banking on second-hand sales in the UK and Europe to power its business. Now not long now before Wall Street starts trading, just having a look here quickly on how markets are looking ahead of the opening bell.

Bringing up the US 500 for you. And we are seeing a slight uptick there, not by much though it has to be said. A similar story too for the US Tech 100, as you can see here.

But let's have a check on Wall Street, which roughly mirrors the Dow Industrials. Wall Street; let's get you a minute chart to see what's happening there. And we can see that it is ticking ever slightly so higher.

Investors bet on early 2024 rate cut

Treasury yields and the dollar also testing multi-month lows and all this movement coming as investors really begin to accelerate bets that the Federal Reserve (Fed) rate cut early next year is pretty much baked in.

Of course, waiting on that data, the US GDP, this is the second estimate out later in the day. And of course, that base book as well, this will give investors a snapshot of the US economy. And investors will also get a look in on how the US economy is faring under restrictive monetary conditions.

We also had a few Fed comments, investors digesting it right now. Christopher Waller, known as a hawk, hinting at lower rates in the months ahead if inflation continues to ease. Meanwhile, Chicago Fed President Austin Goldby raising concerns about keeping those interest rates too high for too long.

Now, this is all interesting, given it's the first time a Fed official has discussed the possibility of a cut.

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