Washington, November 5th / PRNewswire / -- American News Group News and Commentary — On Thursday morning, the U.S. stock market tumbled significantly. As of 11:02 a.m. Eastern Time, the S&P 500 index fell by 3.39% to 7,427.97 points; the Nasdaq Composite Index fell by 5.08% to 24,430.26 points; the Dow Jones Industrial Average fell by 2.37% to 52,093.82 points, all based on Wednesday's closing prices. This is just one trading session.

Recently released official data on output and employment, as well as the latest quarterly reports from large companies in sectors such as payments, catering, medical technology, aerospace, and railways, paint a picture of the U.S. economy continuing to grow in the third quarter, with businesses also reporting increases in sales, transactions, orders, and volume of operations. Some of the companies that have made recent progress in the market include: Visa Inc (. NYSE : V), McDonald's Corporation ( NYSE : MCD ), Stryker Corporation ( NYSE : SYK ), General Electric Company ( NYSE : GE ), and Union Pacific Corporation ( NYSE : UNP ).

Key Points

• From a one-year perspective, daily fluctuations are merely temporary: As of 11:02 a.m. Eastern Time, the S&P 500, Nasdaq Composite Index, and Dow Jones Industrial Average fell by 3.39%, 5.08%, and 2.37%, respectively, but all three are still above their closing levels at the end of 2025.
• Economy still growing in the third quarter: The Bureau of Economic Analysis (BEA) set the actual annualized growth rate for the third quarter at 3.4%, higher than 2.2% in the second quarter, with consumer spending being one of the contributing factors.
• Unemployment rate remains within a narrow range: The U.S. Bureau of Labor Statistics reported that the unemployment rate in September was 4.2%, stating that this indicator has been hovering between 4.1% and 4.3% since March.
• Payment volume and food and beverage sales continue to grow: Visa reports a 9% increase in payment volume for the September quarter when calculated using a fixed exchange rate, while McDonald's reports a 4% increase in global system sales.
• Growth was also reported in healthcare, aviation, and railways: Stryker stated that its 7.7% organic sales growth was mainly driven by an increase in unit sales; GE Aerospace reported a 49% increase in orders; Union Pacific reported a 6% increase in the number of revenue carriages.

Comparison of single-day trends with longer-term cycles

If measured against the end of last year, the situation is different from what is displayed on the screens. As of 11:02 a.m. Eastern Time, based on the daily closing prices, the S&P 500 is up 8.51% from its closing price of 6,845.50 on December 31, 2025, the Dow Jones is up 8.39% from its closing price of 48,063.29 in 2025, and the Nasdaq Composite Index is up 5.11% from its closing price of 23,241.99 in 2025. In other words, today's morning decline has only reversed some of this year's gains, not all of them.

This is precisely the key to the phenomenon of "seeing the trees but not the forest": A single trading day shows the price levels for that day, while the data below demonstrates the behavior of households, employers, and businesses over several months.

What do the official data show?

On October 29, the Bureau of Economic Analysis (BEA) stated that according to its preliminary estimates, real GDP grew at an annual rate of 3.4% in the third quarter of 2026, higher than the 2.2% growth in the second quarter. The agency noted that increases in investment, consumer spending, and government spending were the main contributing factors, but these were partially offset by a decline in exports.

Employment growth has been relatively modest, while the unemployment rate has remained within a narrow range. The U.S. Bureau of Labor Statistics reported on October 2nd that non-farm employment increased by 29,000 in September, with an unemployment rate of 4.2%, showing little change in either indicator; the bureau also noted that the unemployment rate has been hovering between 4.1% and 4.3% since March. In terms of prices, the bureau reported that over the 12 months ending in September, CPI rose by 3.7%, and the index excluding food and energy increased by 2.6%, with gasoline contributing more than half of the month-on-month increase in September.

Payment and catering sales continue to grow.

Visa Inc. ( NYSE : V) On October 27, it was reported that within the three months ending September 30, 2026, payment volume calculated at a fixed exchange rate increased by 9% year-on-year, and the number of transactions processed during the same period reached 74.2 billion, a growth of 10%. The company's net revenue for the fourth fiscal quarter was $12.1 billion, an increase of 13%; the board of directors raised the quarterly cash dividend by 16% to $0.780 per share.

Visa CEO Ryan McInerney stated: " Visa has delivered a milestone annual report. We achieved a record net revenue of $46 billion, a 15% increase; excluding the effects of post-pandemic recovery and mergers and acquisitions, this is the strongest growth in over 15 years."

McDonald's Corporation ( NYSE : MCD ) reported on November 4th that global system sales grew by 4% in the third quarter, exceeding $38 billion; global comparable sales increased by 1.5%. Comparable sales in the international development franchise market grew by 4.2%, while comparable sales in the United States decreased by 0.2%. Diluted earnings per share were $3.51, an increase of 10%; the company announced a 4% increase in the quarterly cash dividend to $1.93 per share.

McDonald's Chairman and CEO Chris Kempczinski stated: "McDonald's has once again delivered a quarter of global growth, with the international business performing steadily in most regions. In the United States, the improvement seen in the later part of the quarter is encouraging, following our interventions in terms of value."

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Growth reported in medical technology, aviation, and railways

BJW (BJWKEEP00001, BJWKEEP00003, BJWKEEP00004) reported on October 29 that third-quarter net sales increased 7.7% to $6.5 billion; organic net sales increased 7.7%, primarily driven by higher unit volumes. Adjusted earnings per share increased 10.3% to $3.52; reported earnings per share decreased 11.7% to $1.96. The company now expects full-year organic net sales growth of 6.5% to 7.0%. Chairman and CEO BJW (BJWKEEP00002, BJWKEEP00005) stated that the quarterly results were below company expectations, but the fundamentals of the business remain strong.

Kevin A. Lobo indicates: "We achieved 7.7% organic sales growth and double-digit adjusted earnings growth this quarter."

General Electric Company ( NYSE : GE ), operating under the name of GE Aerospace, reported on October 20th that total orders for the third quarter amounted to 19 billion US dollars, an increase of 49%; adjusted revenue was 13.3 billion US dollars, a growth of 18%; and adjusted earnings per share were 2.25 US dollars, a growth of 36%. The company stated that it is raising its full-year guidance for 2026 across the board; Chairman and CEO H. Lawrence Culp, Jr mentioned that there are backlogs of business service orders exceeding 170 billion US dollars.

H. Lawrence Culp, Jr. It indicates: "This quarter, we have achieved strong performance. Stable demand drove a 49% increase in orders, with business services growing by 23%, total revenue increasing by 18%, and earnings per share rising by 36%."

Union Pacific Corporation ( NYSE : UNP ) reported on October 22 that revenue from carriages increased by 6% in the third quarter, with operating income growing by 15% to $7.2 billion; earnings per share after dilution were $3.49, an increase of 16%. In the outlook section of its 2026 performance announcement, the railway company listed its plans to meet the growing customer demand with strong service support, while the economic prospects remain mixed.

Union Pacific CEO Jim Vena stated: "The Union Pacific third-quarter results demonstrate our ability to efficiently handle a 6% increase in traffic while securely delivering the services purchased by our customers."

Put this day back into its overall context.

None of these factors can indicate how the stock market will move next, and there are also shortcomings in the data, such as modest employment growth and an overall inflation rate of 3.7%. However, on a downward morning, the figures on the table show that the annualized growth rate for the previous quarter was 3.4%, the unemployment rate has remained within a narrow range since March, and large companies in sectors such as payments, catering, medical technology, aviation, and railways have reported growth in sales, transactions, orders, or volume of business.

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This article is an independent news commentary. American News Group is wholly owned and operated by Market Equities Limited (“MEL”), which is a company registered under Irish law. MEL has not received any compensation from any of the companies mentioned in this article. MEL and its owners, operators, directors, and related parties currently do not hold any shares in the companies mentioned in this article, but retain the right to buy or sell such shares at any time without prior notice. The index levels and percentage changes are as of 11:02 a.m. Eastern Time on November 5, 2026, based on the closing prices on November 4, 2026; year-end comparisons use the daily closing prices on December 31, 2025. The data comes from publicly available market data. Economic data is from the Bureau of Economic Analysis and the Bureau of Labor Statistics of the United States, while company data and quotes are from press releases submitted to the U.S. Securities and Exchange Commission by various companies. Information is drawn from company press releases and filings, government and industry data, published reports, and third-party data considered reliable, but no guarantee is provided for its accuracy. Securities investment involves risks, including the possibility of losing part or all of the investment. This document is governed by Irish law.