US Dollar, Oil Prices, Tech Stocks Rise As GDP Roars By 3% In Q2; Bonds, Yen Slip As Bets For Large Rate Cuts Ease

Quick Summary:

More defensive assets like bonds and the Japanese yen fell as expectations for interest rate cuts were slightly tempered.What Happened: The U.S.economy continues to display robust health, boasting a notable real GDP growth rate of 3% in the second quarter, revised higher from the initial estimate of 2.8% on Thursday.

The boost was primarily driven by consumer spending, which surged by 2.9% in the second quarter, an upward revision from the previously reported 2.3% and significantly higher than the 1.5% growth in the first quarter.

The U.S.dollar, oil prices and tech stocks surged Thursday following an upward revision of the second-quarter real gross domestic product growth to 3%, signaling the continued strength of the U.S.economy.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Piero Cingari

Category: Technology

Markets: United StatesJapan

Topics: US81369Y8030 TLT IWM XLK Employment Markets Tech Inflation UUP Forex Econ #s FXY QQQ US67066G1040 Broad U.S. Equity ETFs GLD US81369Y4070 US23130A1025 Federal Reserve ETFs NVDA Stories That Matter Interest Rates US4642874329 Benzinga Economics Equities US73936D1072 Macro Economic Events US78462F1030 SPY Bonds USO US73935A1043 XLY GDP Unemployment Sector ETFs Labor market US4642876555 Top Stories Commodities US91232N1081 US78463V1070

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 14:21:41 (3 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 440 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 22297795

View Article Analysis

About Benzinga

Main Topics: Technology

Official Website: benzinga.com

Year Established: 2010

Headquarters: United States

News Last Updated: 1 days ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #53

Publisher Details

Frequently Asked Questions