US Economy Grows Faster Than Expected; Nvidia Outlook Disappoints

US Economic Growth Revision

• 📈 The US economy saw stronger growth in the second quarter, revised up to 3.3%.
• 🎯 This upward revision was driven by a boost from trade, as U.S. importers accelerated purchases ahead of potential Trump tariffs.
• 💬 Consumer spending also provided steady support to the economic expansion.

Nvidia's Performance and Outlook

• 💡 Nvidia, the world's most valuable company, reported strong earnings but provided a lackluster outlook for the current quarter.
• 💰 Despite sales expected to exceed $54 billion, investors were looking for more, especially concerning its stock buyback program of $60 billion.
• 📉 Shares of Nvidia experienced a slight decline, impacting Wall Street sentiment.

Market Reactions and Inflation Concerns

• 📊 Wall Street trading was muted, with the Dow and S&P 500 trading flat, while the NASDAQ saw a modest gain of a quarter percent.
• ⚠️ Jitters about a key inflation report due on Friday contributed to market caution.

Coffee Price Increases

• ☕ J.M. Smucker announced plans to increase prices for its Folgers and Cafe Bustillo coffee brands by 20% this year.
• 🏷️ The company attributes this price hike directly to the impact of Trump tariffs.