Overview

• Revised Commerce Department data showed Q2 GDP grew at a 3.3% annualized pace, with final sales to private domestic purchasers rising to 1.9% from 1.2%.
• The S&P 500 added 0.32% to 6,501.86 for a record close as the Dow rose 0.2% to 45,636.90 and the Nasdaq gained 0.5% to 21,705.16.
• Nvidia beat quarterly estimates but its shares eased, and a filing revealed two customers accounted for 39% of its Q2 revenue, sharpening focus on concentration risk.
• Affirm reported $0.20 EPS on $876 million in revenue, topping forecasts and lifting its shares, while Dell logged record Servers and Networking revenue and raised guidance as its stock slipped after-hours.
• Traders are watching the BEA’s PCE price index release at 8:30 a.m. ET after Powell signaled cuts could be considered if the labor market softens.