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The stock market had a mixed finish, with the Dow Jones Industrial Average performing better than other indices. International Business Machines (IBM) saw its stock rise by 4.3% after beating top- and bottom-line expectations for the second quarter. The first reading on second-quarter gross domestic product (GDP) showed the U.S. economy grew at an annual rate of 2.8%, surpassing economists’ expectations. Concerns about the economy downshifting and potential volatility in the coming months were also highlighted. Chipotle Mexican Grill (CMG) and Ford Motor (F) had differing post-earnings moves, with CMG’s stock falling 1.9% despite beating analysts’ expectations, and Ford’s stock plunging 18.4% after falling short of earnings expectations for the second quarter. Warren Buffett’s Berkshire Hathaway selling more than 52 million shares of Bank of America also garnered attention, potentially reflecting profit-taking or strategic portfolio adjustments.
Stock Market Performance
The stock market had a mixed finish, with the Dow Jones Industrial Average performing better than other indices. International Business Machines (IBM) saw its stock rise by 4.3% after beating top- and bottom-line expectations for the second quarter.
Economic Growth
The first reading on second-quarter gross domestic product (GDP) showed the U.S. economy grew at an annual rate of 2.8%, surpassing economists’ expectations. Concerns about the economy downshifting and potential volatility in the coming months were also highlighted.
Post-Earnings Moves
Chipotle Mexican Grill (CMG) and Ford Motor (F) had differing post-earnings moves, with CMG’s stock falling 1.9% despite beating analysts’ expectations, and Ford’s stock plunging 18.4% after falling short of earnings expectations for the second quarter. Warren Buffett’s Berkshire Hathaway selling more than 52 million shares of Bank of America also garnered attention, potentially reflecting profit-taking or strategic portfolio adjustments.
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