US Economy Surpasses Expectations in Q2, Driven by Spending

The US economy exceeded forecasts in the second quarter, with a 2.8% GDP growth driven by consumer spending, business investments, and defense. Despite a real estate decline, positive growth was seen.

Core inflation above 2% influenced the Fed's rate decisions to manage inflation without causing a recession. The initial GDP figure is subject to two revisions, as reported by Bloomberg.

US stocks are set for a rebound as investors eagerly await the release of the June PCE index, the Fed's preferred inflation indicator. This data will influence expectations for rate cuts and test Wall Street's confidence in a September pivot. The recent sell-off in tech stocks, driven by underwhelming earnings from Big Tech companies, has caused the Nasdaq Composite and S&P 500 to suffer, prompting investors to move from megacaps to smaller cap stocks. However, with easing inflation data and expectations of future rate cuts, US stocks have risen, with the Dow, S&P, and Nasdaq all climbing. Investors are also preparing for quarterly earnings reports from tech giants Apple, Microsoft, Amazon, and Meta next week. The market is currently contemplating whether the recent sell-off is indicative of sustained lower prices or just a typical bull-market pullback.

Major tech stocks like Nvidia, Microsoft, Meta, and Amazon are on the rise, accompanied by gains in the Dow Jones, S&P 500, and Nasdaq. US consumer spending is up, propelling the growing economy despite the Federal Reserve's high-interest rates. However, Alphabet and Tesla face penalties for underperformance. Investors eagerly await news from tech giants and the Federal Reserve meeting. Individual stocks such as 3M, Bristol Myers Squibb, Colgate-Palmolive, and Deckers Outdoor are experiencing substantial price hikes. The market's resilience and the need for strategic investment approaches are evident, with a Santa Claus rally possibly on the horizon. International markets remain steady, with a focus on key US economic data affecting global trading sentiments.

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EL PAÍS

25. Juli 2024 um 18:53

US economy expands more than expected in second quarter, boosted by spending

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U.S. GDP grew 2.8% in Q2, driven by consumer spending, business investment, and defense, despite real estate decline. Core inflation above 2% sways Fed's rate decisions as unemployment rises, targeting inflation control without recession. Initial GDP figure subject to two revisions, per Bloomberg report.

Kinh doanh - VnExpress

26. Juli 2024 um 01:39

Kinh tế Mỹ tăng trưởng vượt dự báo

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GDP Mỹ tăng 2,8% quý II, vượt dự báo. Tiêu dùng, đầu tư và chi tiêu công đều tăng. Xuất khẩu tăng 2%, nhập khẩu tăng 6,9%, thâm hụt thương mại là yếu tố kéo giảm GDP. Thị trường bất động sản chưa hồi phục. Các động cơ tăng trưởng đều cải thiện. Chỉ số PCE tăng 2,6%, thấp hơn quý I. Quan chức Fed dự kiến giữ nguyên lãi suất. Số đơn xin trợ cấp thất nghiệp giảm, giá dầu tăng do kỳ vọng nhu cầu tăng.

US Economy Surpasses Expectations in Q2, Driven by Spending

US economy expands more than expected in second quarter, boosted by spending

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US Economy Surpasses Expectations in Q2, Driven by Spending

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US Stocks Set for Rebound as Investors Await Key Inflation Data

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US economy expands more than expected in second quarter, boosted by spending

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