Strong U.S. data fuels rates.

Bob Iaccino breaks down the morning's market action, noting stocks are mostly lower as Treasury yields fall across the curve, except for the 2-Year yield. Nasdaq futures lead the downside, while Russell futures manage a small gain. Iaccino highlights strong U.S. economic data, including third-quarter GDP at 3.4% and steady PCE inflation. This combination leaves little reason for the Fed to rule out another hike, keeping indices sensitive to yields. Geopolitics remain in focus as G24 foreign ministers meet in Atlanta, with the Strait of Hormuz and energy security on the agenda. Finally, earnings season rolls on with 133 large-cap companies scheduled to report.