Dow Jones| Nasdaq | S&P 500 | US Stock Market Today |Live Updates: US stocks muted ahead of Nvidia results, hot inflation fuels rate-hike bets

Dow Jones| Nasdaq | S&P 500 | US Stock Market Today |Live Updates: US economy grows 1.5% in Q2, consumer spending remains strong

The US economy grew at a 1.5% annualised pace in the second quarter, unchanged from the first estimate but slower than the 2.1% growth recorded in the first quarter, the Commerce Department reported. Consumer spending, which accounts for about 70% of economic activity, rose 3.4%, while imports surged 12.5% and shaved 1.64 percentage points off GDP growth. Business investment excluding housing grew 8.5%, driven by the AI investment boom, while underlying economic growth accelerated to 4.2%. Meanwhile, an inflation measure closely watched by the Federal Reserve held at 3.7% in July, well above the Fed’s 2% target.