US stock exchanges are growing after GDP data

According to Thursday's trading figures, US stock indexes are rising after data on improving estimates of US GDP growth in the second quarter.

In particular, the Dow Jones industrial index rose by 0.15% to 34440.66 points, the NASDAQ high-tech index rose by 0.56% to 14594.4 points, and the S&P 500 broad market index increased by 0.37% to 4375 points.

The US Department of Commerce improved its estimate of GDP growth in the second quarter from 6.6% to 6.7% in terms of the year (if GDP had grown at the same pace for four consecutive quarters). Analysts expected the US economy to grow by 6.6% in the second quarter, as the preliminary estimate showed. And according to the first estimate, US GDP increased by 6.5%.

At the same time, the data on the labor market turned out to be worse than the forecast. The number of initial applications for unemployment benefits in the United States increased by 11 thousand compared to the previous week – up to 362 thousand. Experts expected a decrease to 335 thousand.