U.S. Economy Picks Up Pace in 2Q
U.S. stocks showed signs of indecisiveness on the second-to-last trading day of July after data showed the economy picked up its pace in the second quarter, growing at a 2.3% rate. The S&P 500 ended flat, as the Dow slipped five points and the Nasdaq closed up 17 points.
Social media giant LinkedIn reported second quarter earnings after the bell. The company, a favorite with working professionals, beat on both the top and bottom line and said subscription revenue grew 22% to $128 million.
As much of the nation is gripped by broiling temperatures, a brand new report out of the United Kingdom warns the conditions are ripe for planet Earth to be squarely in the path of what could eventually be a killer solar flare. The report indicates the world will have just 12 hours warning before mass chaos that could leave 130 million people without power for years.