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Second-quarter GDP grew 1.5 percent against forecasts of 1.8 percent. Annual PCE inflation ran at 3.7 percent, with core at 3.3 percent. Growth nearly halved from the first quarter. Inflation did not. CNBC
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The Dow rose 613.92 points to 52,208.06. The Nasdaq gained 2.8 percent and ended a six-day losing streak. Best day for the S&P 500 in nearly two months. Fox
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WTI held near $84 a barrel. Crude is up about a fifth in July, its biggest monthly gain since March. The weekly trading range ran more than $8. BBG
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Amazon revenue hit $201 billion, up 20 percent. AWS grew 37 percent, its fastest since 2021. Shares rose 9.4 percent after hours. Reuters
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Apple posted $109.42 billion in revenue, up 16 percent. iPhone sales grew 22 percent. Shares fell 6.65 percent. China came in $700 million light. CNBC
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Amazon booked $53 billion in non-operating income. Most of it was an unrealized gain on its Anthropic stake. It spent about the same on property and equipment last quarter. CNBC
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Trump said he may pull Todd Blanche’s attorney general nomination. He would renominate him after Cornyn and Tillis leave the Senate in January. The holdup is audit immunity in Trump’s IRS settlement. BBG
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The 9th Circuit rejected ICE’s detention policy. Fifth straight appellate loss for the administration. Fox
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South Korea’s Kospi soared 15 percent. It fell 10.84 percent on Tuesday. Three sessions, two circuit breakers, one round trip. CNBC
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The pause in US strikes on Iran held again overnight. Trump called the negotiations “very friendly.” Tehran says no direct talks are taking place. BBG
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