The ECB followed the Fed in holding rates steady, ending a historic run of 10 consecutive rate increases. https://ift.tt/IrVaX49

U.S. economic growth surged in the third quarter as GDP rose 4.9%, the fastest pace since 2021, as consumers spent at a blockbuster rate that will be difficult to sustain. https://ift.tt/cwoH7Af

Died: Byron Wien, longtime Blackstone executive, 90. https://ift.tt/McSUARF

Ford posted $1.2 billion in net income for the third quarter, swinging from a loss in the prior-year period but it withdrew its guidance for the year, citing the impact of the UAW strike. https://ift.tt/T8LMiAt

The developer of New York City’s World Trade Center, Silverstein Properties, has replaced its CEO with Lisa Silverstein, daughter of chairman and founder Larry Silverstein. https://ift.tt/eIUaFAJ

A pullback in megacap tech stocks deepened, dragging the Nasdaq down 1.8%. The S&P 500 and Dow fell 1.2% and 0.8%, respectively. https://ift.tt/IiOcnzU

Amazon.com said profit tripled to nearly $10 billion from July to September because of strong sales in its cloud-computing, advertising and retail units. https://ift.tt/H1urbY7

Corrections & Amplifications https://ift.tt/z2dqaxo

Gold Edges Higher as U.S. Treasury Yields Fall https://ift.tt/1dj4aFc

Most Asian Currencies Strengthen Amid Improving Risk Appetite https://ift.tt/ToEuXsV