Wall Street Awaits Key Earnings Amid Economic Tensions
Wall Street opened mostly steady as investors analyzed solid GDP data, awaited Fed decisions, and key tech earnings. A GDP rise has stirred market caution amid political tariff pressures. Major corporations like Microsoft and Meta are eyed for financial results, while President Trump holds firm on imminent tariff deadlines.
On Wednesday, Wall Street braced for a stable opening as market players dissected the optimistic GDP figures while anticipating the Federal Reserve's policy direction and critical technology earnings.
The economy saw a 3% annualized growth in the second quarter, largely due to decreased imports and a modest uptick in consumer expenditures. This robust number offers some market comfort, although deeper analysis highlights potential concerns, according to Ben Laidler of Bradesco BBI.
With the GDP exceeding forecasts, the Federal Reserve faces added pressure amid significant tariff debates. Major indexes showed slight increases, yet caution prevailed following President Trump's 25% tariff announcement on Indian imports. All eyes are on tech giant earnings and the Fed's future policy indications.
(With inputs from agencies.)
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