What's coming up on the economic calendar
The third report on GDP isn't often a market mover but with all the focus on US growth, it might get a bit of extra attention today, especially if there are any chances that will impact the second quarter.
The report is due out at the bottom of the hour and the consensus is for 3.2% annualized growth, up from 3.1% in the second look. Hard to believe we're talking about rate cuts after a quarter with the economy growing at a 3% pace. Core PCE is forecast to remain at 1.0%.
Released at the same time is the latest initial jobless claims report. The consensus is 220K but a poor reading (something at 240K or more) would spark some jitters.
At 1400 GMT it's onto pending home sales, which are forecast up 1.0%.
Overall, data isn't going to be a big story today and the focus will be on the G20. The main story right now is a report from the South China Morning Post that said a deal for a truce is agreed but a WSJ report said China has insisted the US lift all punitive tariffs on the technology blockade on Huawei as part of it.
The market is having a hard time believing Trump will agree to take a step back.