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The S&P 500 closed Thursday at a fresh high, buoyed by signs that both Main Street and Wall Street are still buzzing with life.
Revised data showed U.S. gross domestic product grew at an annualized 3.3% in the quarter ending June, surpassing the consensus forecast of 3.1% by Dow Jones, as well as the Commerce Department’s initial estimate of 3%.
A key measure called “final sales to private domestic purchasers” jumped to 1.9% from the previous figure of 1.2%, noted CNBC’s Jeff Cox. According to the Bureau of Economic Analysis, the figure tracks “the sum of personal consumption expenditures and gross private fixed investment,” or, in short, the economic health of consumers and corporations. By this criterion, both seem to be chugging along healthily even amid tariff uncertainty.
