GDP data was revised upward. Let's take a look at the reaction of the international financial market:
Gold fell by $20, but it still stabilized and rebounded at 2,500, which was considered a sign of this data.
The 10-year US Treasury bond fluctuated by 0.05%, which can be basically ignored.
The US dollar index performed significantly and currently rose to around 101.37.
In terms of US stocks, Nvidia data fell by about 3.4% before the market opened, and there was no change after the data was released. The rest of the technology stocks rebounded and rose before the market opened.
CME swap rates show that the probability of a 25 basis point rate cut in September has increased to 69.5%, up 6 percentage points after the data was released.
Bloomberg data US stock futures began to rise because of the data.
At present, this economic data before the US stock market has indeed played a role in stabilizing the market. Tonight's opening of the US stock market is a game between the disappointment of technology stocks and the economic benefits. Focus on Russell 2000 and the Dow Jones. If the expectation of interest rate cuts is stable, then the funds that take advantage of the decline in Nvidia's stock price will gradually flow into Russell 2000 and the Dow Jones.
Overall, the international financial market and US bonds are not very receptive to this economic data, while US stocks are more receptive now. We will see the real market reaction after the US stock market opens.
