Top News: Top News of the Day from Global Markets – Thursday at 7:00 PM ET

U.S. economy shows resilience in second quarter with growth at a revised 3%

The U.S. economy grew by an annualized 3% in the second quarter, down from the 2.8% originally estimated, according to revised government data released Thursday.

 
Dow Industrials Hit New Record, but Nasdaq Dragged Lower by Nvidia

The stock market escaped Nvidia’s disappointing results largely unscathed. The S&P 500 was roughly flat and the Nasdaq Composite fell. The Dow maintained modest gains, hitting a new record high.

 
Pending home sales drop 5.5% to all-time low in July

Pending home sales hit a new record low in July as falling mortgage rates failed to spur activity in the market, in part because of election uncertainty.

 
Layoffs remain low as first-time jobless claims decline

The number of new jobless claims fell by 2,000 to 231,000 in the week ending Aug. 24, the Labor Department reported Thursday.

 
German Inflation Unexpectedly Falls Below ECB Target

Consumer prices were 1.9% higher than in August last year, down from 2.3% in July and below economists’ consensus of 2.1%.

 
Trade deficit in goods widens sharply to highest level in more than two years

The U.S. trade deficit in goods widened 6.3% to $102.7 billion in July, according to Commerce Department estimates released Thursday. It is the largest deficit since May 2022.

 
FDA Wants Safer Cancer Drugs, But Some Startups Fear Unintended Consequences

For decades, cancer drug makers have used a more-is-more model for dosing drugs in clinical trials. U.S. regulators want them to reconsider that approach.

 
Fed Announces Final Individual Capital Requirements for Large Banks

The Board of Governors of the Federal Reserve System announced final individual capital requirements for all large banks and modified the stressed capital buffer requirements for Goldman Sachs.

 
Asian Chip Stocks Retreat, Following Nvidia Lower

Asian semiconductor stocks fell on Thursday, mirroring an overnight decline in U.S. artificial intelligence chip giant Nvidia.

 
Chinese EV Stocks Tumble on Worries About Weak Auto Demand

Shares of Chinese electric vehicle makers fell sharply in Hong Kong on concerns that demand for cars will be weak in the fourth quarter due to fierce competition and subdued consumption in the world’s second-largest economy.

(END) Dow Jones Newswires

August 29, 2024, 7:15 PM ET (11:15 PM GMT)