U.S. Q2 GDP annualized quarterly revised up to 2.8%; June core PCE YoY fell to 2.4%, below expectations, strengthening bets on a Fed rate cut in September. U.S. stocks closed higher Wednesday on the data, with the Dow up 0.65%, S&P 500 up 0.84%, Nasdaq up 1.12%, and tech stocks broadly stronger. Investors eye upcoming inflation trends and Fed officials' remarks.
U.S. Q2 GDP annualized quarterly revised up to 2.8%; June core PCE YoY fell to 2.4%, below expectations, strengthening bets on a Fed rate cut in September. U.S. stocks closed higher Wednesday on the data, with the Dow up 0.65%, S&P 500 up 0.84%, Nasdaq up 1.12%, and tech stocks broadly stronger. Investors eye upcoming inflation trends and Fed officials' remarks.
