GDP and Jobless Claims Stink: Back to Fear Again

GDP figures for the second quarter missed expectations, coming in at 1.9% against the 2.3% consensus. GDP still rose from from last quarter’s 0.9%, which was revised down from 1.0%. Q4 GDP, meanwhile, was revised to -0.2% from 0.6%.

Initial Claims surged to 448,000, which was well above the Street’s consensus estimate of 395,000 and higher than the 406,000 last week.

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