• Wed. Aug 17th, 2022

US GDP Growth Likely To Accelerate To This Level, Here Are The Major Macro Issues For Thursday

ByLisa Levin

Jul 28, 2022
US GDP Growth Likely To Accelerate To This Level, Here Are The Major Macro Issues For Thursday

The Nasdaq composite jumped sharply by around 470 points on Wednesday following a rise in shares of Alphabet Inc GOOG GOOGL and Microsoft Corporation MSFT.

Below is a look at the major economic reports scheduled for release today.

  • Gross Domestic Product report for the second quarter is scheduled for release at 8:30 a.m. ET. Analysts expect GDP accelerating to 0.5% annualized growth in the second quarter following a contraction of 1.6% in the previous quarter.
  • Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Jobless claims are expected to hold steady at 249,000 for the July 23 week compared to 251,000 in the earlier week.
  • The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
  • The Kansas City Fed manufacturing index for July will be released at 11:00 a.m. ET.
  • The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
  • The Treasury will auction 7-year notes at 1:00 p.m. ET.

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Image and article originally from www.benzinga.com. Read the original article here.