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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