Daily summary: US500 breaks above 6,500 after strong US GDP data 📌

18:49 28 August 2025
  • U.S. indices gained into the close on Thursday’s cash session, led by technology stocks including Google, Microsoft, and Broadcom. The US100 rose 0.95% to 23,760 points, while the US500 climbed 0.45% and broke above the 6,500 level. Smaller-cap names underperformed, with the US2000 down 0.20%.

  • U.S. Q2 GDP was revised higher to an annualized 3.3%. Personal consumption accelerated to a moderate pace, while core PCE came in at 2.5%, in line with expectations. The data beat forecasts, lifting both the dollar and equities modestly after release.

  • Fed Governor Lisa Cook filed a lawsuit challenging Donald Trump’s attempt to fire her over allegations of false mortgage disclosures. Trump’s nominee, economist Stephen Miran, is on track for confirmation ahead of the September Fed meeting, with Senate Banking Committee hearings scheduled for next week.

  • Nvidia is in talks with the Trump administration about resuming sales of its Blackwell AI chip to China. CEO Jensen Huang stressed the company remains willing to share a portion of revenue with the U.S. government.

  • Weekly jobless claims came in at 229k, below expectations of 230k and the prior week’s 235k.

  • Minutes from the ECB’s July meeting showed rates in the euro area are currently viewed as neutral. Despite high uncertainty, several members noted inflation risks have eased somewhat. Still, a wait-and-see approach was judged optimal for managing uncertainty and monitoring the impact of tariffs.

  • Silver tested the $39/oz area today, its highest level since July 25, with intraday gains exceeding 1%, making it one of the stronger commodities of the session. The move was supported by buoyant precious metals sentiment, with gold climbing above $3,400, breaking its August 6 highs and reaching its strongest level since July 23.

  • Today’s weaker-than-expected natural gas inventory build brought seasonal levels below the five-year historical range, sparking a demand reaction in NATGAS (+3.6%).

  • Crypto markets were mixed: Bitcoin gained 1%, while Ethereum fell 0.7%.

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back

Join over 1.7 Million investors from around the world