Friday, 30 July 2021

Markets rise, not too concerned with US growth

Markets rose on Thursday.

The S&P 500 rose 0.4 percent, the STOXX Europe 600 rose 0.5 percent and the Nikkei 225 rose 0.7 percent.

Investors shrugged off news that US second-quarter GDP accelerated 6.5 percent on an annualised basis, considerably less than the 8.4 percent Dow Jones estimate.

Craig Erlam, senior market analyst at Oanda, said that the less-than-expected GDP growth “was due to a drop in inventories so nothing to be too concerned about”.

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