The three major US stock indexes rose and fell, with the Nasdaq and S&P 500 up 0.07% and the Dow down 0.06%.
The actual GDP annualized quarter rate for the second quarter of the United States was 2.8%, with an expected value of 2% and a previous value of 1.4%. The annualized quarter rate of core PCE price index was 2.9% for the initial value, with an expected value of 2.7% and a previous value of 3.7%. The initial value of actual personal consumption expenditure was 2.3% for the quarter, with an expected value of 2% and a previous value of 1.5%.
IBM rose more than 2.4%, with Q2 revenue of $15.77 billion and EPS of $2.43, both exceeding market expectations, and significant increase in AI business bookings.
Ford Motor fell more than 13.4%. Q2 adjusted EPS fell 34.7% YoY to $0.47, lower than expected, and performance guidance was conservative.
STMicroelectronics fell more than 12.3%, with Q2 revenue down 25% YoY to $3.23 billion, below expectations, and once again lowered its revenue guidance for the year.
