The U.S. economy grew at a 3.0% annualized rate in Q2, beating forecasts. However, consumer spending and business investment showed signs of slowing momentum, with residential investment contracting for a second straight quarter. Imports swing added nearly 5 percentage points to GDP growth, while final sales to private domestic purchasers signaled weakness. The Fed is likely to hold rates steady but may signal a data-dependent stance. Markets reacted positively to the news, with the dollar strengthening. Chair Powell’s press conference and upcoming data on consumer spending, inflation, and labor markets will be crucial in determining future rate cuts.

Read more at Quiver Quant: Trade Swings Mask Underlying Slump in U.S. Growth