Stocks dropped, with the three U.S. major indexes posting a third day of declines for the first time in six months.
The final estimate of second-quarter GDP growth came in stronger than expected, at 3.8%, versus a prior estimate of 3.3%. Weekly jobless claims showed a drop in the number of Americans who newly filed for unemployment benefits. Monthly durable goods orders bounced back, driven by a surge in aircraft orders.
After the close, President Trump signed an executive order formalizing a previously announced agreement for a group of American investors to take control of TikTok’s U.S. operations, setting the stage for the other steps needed to finalize the deal.
The three major indexes declined. The S&P 500 and Nasdaq fell 0.5%, while the Dow was 0.4% lower.
Bond yields rose. The 10-year Treasury yield ended the session at 4.172%.
Intel was the S&P 500’s best performer. The shares rose 8.8% after the chipmaker approached Apple for an investment.
Platinum prices notched a new high for the year and reached their highest level since 2013. They are up 68% for 2025.
