The uncertain market environment still surrounds the shares in the United States (US) are still in the 'red' state.
Investors continued the selling momentum of technology-related stocks on the second day as their level of skepticism about the capabilities of AI is still at a high level.
Looking at index performance, the S&P 500 pared gains to finish 0.5% lower, the Nasdaq 100 shed 1%, while the Dow gained 81 points.
Stocks pared early gains supported by a better-than-expected 2.8% growth report in the US Gross Domestic Product (GDP) report for the second quarter of 2024.
The more encouraging reading of economic growth compared to the first quarter reinforces the view that the Federal Reserve (Fed) can continue to tighten policy to curb inflation without affecting the economy.
Therefore, the percentage for the interest rate cut in September will be seen to decrease slightly.
However, market analysts still see the reading of the latest data will not affect the expectation that 'cut rates' will still be implemented.
Today's market focus will be on the release of PCE price index data that measures goods and services consumed by individuals.
This data will have a big impact on the market because it can provide information on consumer spending behavior that will be used to measure the level of inflation.
