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Here’s why the GDP report could have a ‘massive effect’ on markets
The Bureau of Economic Analysis is set to release its second-quarter gross domestic product report on Friday morning, and Wall Street experts have increasingly high expectations for the report. Strategists and economists are looking for a pickup from the first quarter's weak reading, which reflected the economy's slowest growth in three years. The market is looking particularly for a pickup in consumer spending after the first-quarter data reflected disappointing growth on that front, said Boris Schlossberg, managing director of foreign exchange strategy at BK Asset Management. "The results will be vital to the Fed ... (full story)
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