GDP Data Reveals 4.1% Growth Rate

Charlie Toole, vice president at Adviser Investments, has the market analysis for Friday, July 27. The Dow Jones Industrial Average, S&P 500 and NASDAQ Composite declined 0.3%, 0.6% and 1.4%, respectively. The Bureau of Economic Analysis released second quarter gross domestic product (GDP) data: The U.S. economy’s estimated 4.1% growth rate is the fifth highest figure since the 2008 financial crisis. On the earnings front, we saw Intel’s stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. down 8% today—despite 15% year-over-year revenue growth—as a result of future product delays. Similarly, Twitter fell over 20% because of significant user count declines. Next week, we’ll watch for earnings announcements from Caterpillar, Procter & Gamble and Pfizer.