1. Wall Street was lower on Thursday as investors digested weaker-than-expected U.S. economic growth in the third quarter and the Federal Reserve's hints of a possible rate hike in December.

The Fed, which kept rates unchanged at its policy meeting that ended Wednesday, downplayed concerns about global growth and indicated confidence in the U.S. job market's recovery and the economy's capacity to absorb a rate increase.

Data on Thursday underscored the strength in the labor market, showing that new applications for unemployment benefits remained near levels last seen in 1973.

2. Contracts to buy previously owned U.S. homes fell unexpectedly in September, a warning sign that the housing market recovery may be stumbling.

The National Association of Realtors said on Thursday its Pending Home Sales Index, based on contracts signed last month, dropped 2.3 percent to 106.8, the second lowest reading of 2015. The index was up 3.0 percent from the same month a year ago.

Economists polled by Reuters had forecast pending home sales rising 1.0 percent last month.

3. The dollar trimmed losses against the other major currencies on Thursday, after data showed that the U.S. economy grew less than expected in the third quarter, as hopes for a U.S. rate hike before the end of the year continued to support

The dollar was lower against the yen, with USD/JPY down 0.16% at 120.89.

The Commerce Department said U.S. gross domestic product grew at an annual rate of 1.5% in the three months to September, missing expectations for growth of 1.6%. The U.S. economy grew 3.9% in the previous quarter.

Separately, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 24 increased by 1,000 to 260,000 from the previous week’s total of 259,000. Analysts had expected jobless claims to rise by 4,000 to 263,000.

4. Gold prices plunged sharply to a more than two-week low on Thursday, after data showed the U.S. economy grew mostly in line with expectations in the third quarter and as the Federal Reserve signaled that a December rate hike was still on the table.

Gold for December delivery on the Comex division of the New York Mercantile Exchange tumbled $22.10, or 1.88%, to trade at $1,154.00 a troy ounce during U.S. morning hours. It earlier fell to $1,152.40, the lowest since October 9.

5. Natural gas futures pushed higher to move further away from the lowest level in more than three years on Thursday after data showed natural gas supplies rose less than expected last week.

Natural gas for delivery in December on the New York Mercantile Exchange soared 7.1 cents, or 3.07%, to trade at $2.369 per million British thermal units during U.S. morning hours. Prices were at around $2.347 prior to the release of the supply data.

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The US economy grew slower than expected in the third quarter.

The advance estimate of gross domestic product (GDP), (the value of all goods and services produced) was 1.5%, while economists had estimated that it would grow by 1.6% in Q3.

Personal consumption grew 3.2%, just below the forecast for 3.3%.

The Department of Commerce said in its release, "The increase in real GDP in the third quarter primarily reflected positive contributions from personal consumption expenditures (PCE), state and local government spending, nonresidential fixed investment, exports, and residential fixed investment that were partly offset by negative contributions from private inventory investment."

In the last few weeks, economists steadily lowered their estimates for growth for the quarter and the full year. Estimates were raised again on Wednesday, after the advance goods trade balance showed that the deficit shrank to $58.6 billion from $66.6 billion.

The economy has faced some strong headwinds this year, including a sharp rise in the dollar, weaker-than-expected global growth and sharp cuts in oil sector investment.

Global shocks are having a big negative impact on the industrial sector (which includes resource extraction, utilities, and the production of manufactured goods). Although this sector only accounts for a shrinking, 16% share of GDP, the data have been weak enough to slow the overall economy.

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It's another trading day in the middle of earnings season, and there's plenty to watch for.

Wall Street is also getting excited about talk of more Merger and Acquisition (M&A) in the pharmaceutical sector.

Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

1. Takeover talk

Shares in Allergan (AGN) are rising by about 10% premarket based on reports that Pfizer (PFE) is talking with the Botox-maker about a potential takeover bid. Reports in the Financial Times and Wall Street Journal cite unnamed sources. In an emailed statement to CNNMoney, Pfizer said "it does not comment on market rumor and speculation."

Allergan did not immediately respond to requests for comment.

Earlier this year, Allergan combined with Actavis. The group has a market value of well over $110 billion.

Pfizer has a market value around $220 billion.

2. Earnings

It's another busy morning for earnings, with reports from Sony (SNE), Nokia (NOK), Aetna (AET), Time Warner Cable (TWC) and MasterCard (MA) coming through before the opening bell.

Afternoon reports include Expedia (EXPE), LinkedIn (LNKD, Tech30) and Starbucks (SBUX).

3. Stock market movers

Banks, PayPal, Hanes: Shares in Deutsche Bank (DB) are falling by 3% in Germany after the firm reported a massive 6 billion euro ($6.6 billion) loss in the third quarter and announced plans to shed 35,000 jobs.

Shares in the British bank Barclays (BCS) are also declining by about 5% in London after reporting disappointing quarterly results.

PayPal (PYPL, Tech30) stock is dropping by about 6% premarket as Wall Street expresses disappointment over the company's latest earnings results.

Hanes (HBI) stock could shoot up by over 10% at the open after the company beat earnings expectations.

4. Economics

A few important economic reports will be coming through Thursday.

The U.S. Bureau of Economic Analysis is releasing an estimate for gross domestic product growth in the third quarter at 8:30 a.m. ET. In the second quarter, GDP growth reached 3.9%, up from a weak first quarter of 0.6% growth.

At the same time, the U.S. Department of Labor will release weekly jobless claims.

At 10 a.m. the National Association of Realtors is set to give an update on pending home sales from September.

And then government data on natural gas inventories will be released at 10:30 a.m.

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What is it? It's among the primary tools the BOJ uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it projects the economic outlook and offers clues on the outcome of future rate decisions.

When? Tentative

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the JPY to rise.

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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.

When? At 8:00pm Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the NZD to rise.

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What is it? Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is lower than the forecast, you can expect the USD to rise.

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What is it? It's the broadest measure of economic activity and the primary gauge of the economy's health.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

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1. U.S. stocks were boosted by gains in Apple on Wednesday, and investors awaited the Federal Reserve's policy statement later in the day.

Apple (O:AAPL) sold 48 million iPhones in the quarter and reported a near doubling of revenue from China, allaying concerns about its business in the world's second-largest economy.

The stock was up 2.4 percent at $117.27, providing the biggest boost to the three major indexes.

2. Apple Inc (O:AAPL) reported blockbuster iPhone sales in China, suggesting that worries about the company's growth trajectory in the world's second-largest economy are overdone.

Apple's shares rose nearly 3 percent in early trading on Wednesday.

The stock has lost about 7 percent of its value in the past three months as investors fret that the slowing Chinese economy would derail Apple's successful run in the country.

Apple's sales in Greater China, including Taiwan and Hong Kong, nearly doubled in the third quarter, accounting for nearly a quarter of the company's total sales.

3. The dollar pushed lower against the other major currencies on Wednesday, as sentiment on the greenback became fragile ahead of the Federal Reserve's highly-anticipated policy statement due later in the day.

The dollar was steady against the yen, with USD/JPY at 120.35.

The Fed was not expected to raise interest rates later Wednesday, but many investors still expected the U.S. central bank to signal that rates could still rise at its December meeting.

4. West Texas Intermediate oil futures extended strong gains on Wednesday, after data showed that oil supplies in the U.S. rose less than expected last week, easing concerns over weak demand.

Crude oil for delivery in December on the New York Mercantile Exchange surged $1.70, or 3.94%, to trade at $44.90 a barrel during U.S. morning hours. Prices were at around $44.57 prior to the release of the inventory data.

The U.S. Energy Information Administration said in its weekly report that crude oil inventories rose by 3.37 million barrels in the week ended October 23.

5. Activist investor Carl Icahn said on Wednesday American International Group Inc (N:AIG) should split its life and mortgage insurance units into three public companies to avert the U.S. government's "too-big-to-fail" tag.

Icahn, who disclosed that he owns a "large stake" in AIG, also said in an open letter to the company's CEO that it should begin a "much needed" cost control program to better compete with peers. AIG shares rose as much as 4 percent to $63.44 in early trading.

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