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US equities finished in the red on Thursday, as strong economic data showed the resilience of the US economy, paving the way for the Fed to extend its tightening cycle in September. The US GDP expanded by 2.4% in the second quarter, surpassing market expectations of a 1.8% increase, while durable goods orders surged, and jobless claims declined to multi-month lows. The data triggered a surge in treasury yields, enough to send the Dow 238 points lower, snapping 13 straight sessions of gains. Meanwhile, the S&P 500 and the Nasdaq 100 lost 0.6% and 0.5% respectively. Elsewhere, European shares outperformed strongly, with the Euro Stoxx 50 Index ending the session with a gain of 2.3% as investors digested a huge number of earnings releases.
Summary for 28.07.2023
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