The Dow Jones today projected a 25-point decline in pre-market hours following a report from the U.S. Commerce Department that announced Q2 GDP grew at a rate of 4.1%. The 4.1% figure is the fastest quarterly growth since July 2014.
Most analysts are questioning whether the rate of expansion is sustainable. The Trump administration has cut regulations, increased spending, and slashed taxes, all factors that contributed to Q2 growth. However, the U.S. government is locked in a major trade battle with China, one of its largest trading partners, and the U.S. Federal Reserve is reducing its balance sheet at a time that it plans to continue raising interest rates.
Here are the numbers from Thursday for the Dow, S&P 500, and Nasdaq:
Index Previous Close Point Change Percentage Change Dow Jones 25527.07 112.97 0.44% Nasdaq 7852.18 -80.05 -1.01% S&P 500 2837.44 -8.63 -0.30%
Now here’s a closer look at today’s Money Morning insight, the most important market events, and stocks to watch.
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Money Morning Insight of the Day
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The Top Stock Market Stories for Friday Energy prices are in focus thanks to earnings reports from Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX). Shares of XOM fell 4.0%, while CVX shares dropped 2.1%. Exxon