MARKET DAILY

Market 07/25: GDP growth dispels recession fears but what about interest rates?

Shorts-Cover Rally with SPX successfully defending 5400. Boeing causes durable goods orders to collapse in June.

Q2 GDP growth hits 2.8% QoQ, double the 1.4% of Q1 and higher than the 2.0% forecast

The 2.8% figure blows away all Wall Street forecasts, only 1 forecast was accurate at 3.0%

At this level, first-half 2024 GDP growth hits 2.1%, lower than 3.1% in 2023 but still impressive.

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