The U.S. economy grew 1% in the second quarter, down from an initial estimate of 1.3%, the Commerce Department said Friday. The revised gross domestic product figure was in line with the consensus forecast produced by a MarketWatch survey of economists.
Indications: U.S. stock futures slip
U.S. stock futures extend losses after the downward revision in second-quarter GDP, but the main event remains Federal Reserve Chairman Ben Bernanke’s long-awaited speech in Jackson Hole, Wyo. Read Indications.
Europe Markets: European stocks drop
European stock markets drop Friday, led by the German market ahead of Bernanke’s speech. Read Europe Markets.
Asia Markets: Hong Kong falls, Tokyo gains
Stocks in Hong Kong and Australia fall to lead several Asian markets lower in a choppy trading session. Read Asia Markets.
Currencies: Dollar weakens vs. rivals
The dollar pares losses after second-quarter GDP data, but remains lower ahead of Bernanke’s speech. Read Currencies.
Metals Stocks: Gold advances
Gold futures rise, helped by a falling dollar. Read Metals Stocks.
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