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The U.S. Commerce Department reported that the slowdown in real GDP growth in the second quarter (1.5%) compared to the first quarter (2.1%) reflected a decline in government spending and slower growth in investment and exports, but these effects were partially offset by faster consumer spending. Imports grew at a higher rate in the second quarter than in the first quarter.

Ukrainian President Zelensky: Ukraine is currently in contact with the United States to discuss ways to achieve peace.

The U.S. Commerce Department reported that real GDP growth was in line with preliminary estimates. The upward revision to consumer spending was offset by an upward revision to imports.

Alibaba has released a smaller and more cost-effective Qwen AI model.

The preliminary estimate for the annualized quarterly rate of US corporate profits in the second quarter was 8.2%, compared to 0.5% in the previous quarter.

The revised figure for U.S. real personal consumption expenditures in the second quarter was 3.4%, down from 3.20% previously.

The revised annualized quarterly rate of final sales in the US for the second quarter was 2.2%, in line with expectations and the previous figure.

U.S. real personal consumption expenditures rose 0% month-on-month in July, in line with expectations and down from 0.40% in the previous month.

U.S. personal spending rose 0.2% month-on-month in July, below the expected 0.1% and the previous month's 0.30%.

US personal income rose 0.4% month-on-month in July, below the expected 0.20% and the previous month's figure.

U.S. durable goods orders excluding defense rose 1.3% month-on-month in July, revised from 0.5% in the previous month.

U.S. non-defense capital goods orders excluding aircraft rose 0.2% month-on-month in July, below the expected 0.90% and the previous month's figure revised from 1.20% to 1.7%.

U.S. durable goods orders excluding transportation rose 0.4% month-on-month in July, below the expected 0.6% and the previous month's figure revised from 0.70% to 1.1%.

U.S. durable goods orders rose 1.1% month-on-month in July, below the expected 0.50% and the previous month's 0.50%.

The revised annualized quarterly rate of US real GDP for the second quarter, the monthly rate of durable goods orders in July, the monthly rate of personal spending, and the monthly and annual rates of the core PCE price index will be released in ten minutes.

A spokesperson for the Iranian Revolutionary Guard stated: "We held negotiations with Oman about a month ago regarding the Strait of Hormuz and reached a mutually acceptable agreement. During these negotiations, the two sides reached some agreements on the share of waters in the Strait of Hormuz and the distribution of revenue between Iran and Oman. However, progress has been delayed due to interference from the United States. If the United States ceases its interference and is willing to return to the memorandum of understanding, we can open the Strait of Hormuz within the framework of what has been agreed upon; therefore, the United States must accept our conditions. If the United States does not accept our conditions, the Strait of Hormuz will absolutely not be opened."

A spokesman for the Iranian Revolutionary Guard said: "The Strait of Hormuz will not be opened if the United States does not accept our conditions."

A spokesperson for the Iranian Revolutionary Guard stated that the United States is obstructing the negotiation process between Oman and Iran, causing delays in the talks.

A Reuters poll showed that strong corporate earnings, booming AI investment, and expectations of easing tensions between the US and Iran supported optimism in US stocks. However, strategists warned that high valuations, rising leverage in the tech sector, Federal Reserve policy, and the US midterm elections could bring volatility to the market.

A Reuters poll projects the S&P 500 to reach 7,900 by the end of 2026 (up from 7,620 in the May poll). The Dow Jones Industrial Average is projected to reach 54,500 by the end of 2026 (up from 52,500 in the May poll).