CNBC Daily Open: Main Street and Wall Street are still alive and kicking despite tariff uncertainties

The S&P 500 closed Thursday astatine a caller high, buoyed by signs that some Main Street and Wall Street are inactive buzzing with life.

Revised information showed U.S. gross home merchandise grew astatine an annualized 3.3% successful the 4th ending June, surpassing the statement forecast of 3.1% by Dow Jones, arsenic good arsenic the Commerce Department's archetypal estimation of 3%.

A cardinal measurement called "final income to backstage home purchasers" jumped to 1.9% from the erstwhile fig of 1.2%, noted CNBC's Jeff Cox. According to the Bureau of Economic Analysis, the fig tracks "the sum of idiosyncratic depletion expenditures and gross backstage fixed investment," or, successful short, the economical wellness of consumers and corporations. By this criterion, some look to beryllium chugging on healthily adjacent amid tariff uncertainty.

Shares of Nvidia, meanwhile, dipped 0.3%, contempt reporting earnings that topped expectations. Investors look to person wanted more, though the company's forecast of upbeat income maturation points to continued spot — suggesting the artificial quality roar volition persist, which propped up stocks of different chipmakers specified arsenic Broadcom and Micron Technology.

Still, Nvidia's dependence connected a fistful of ample customers — 2 of which made up a whopping 39% of its second-quarter gross — has raised concerns astir attraction risks.

September has historically been the weakest period for the S&P 500, based connected information from the Stock Trader's Almanac. But with specified fundamentals successful spot — and a likely complaint cut by the U.S. Federal Reserve successful the upcoming period — this twelvemonth could beryllium atypical for stocks.

U.S. second-quarter GDP roseate much than expected. On an annualized basis, the system expanded 3.3%, according to the Commerce Department's 2nd estimation — higher than the 3.0% archetypal estimation and the 3.1% Dow Jones statement forecast.

Two customers made up 39% of Nvidia's second-quarter revenue. That's according to Nvidia's fiscal filing connected Wednesday. They could either beryllium cloud providers oregon manufacturers — but small other is known astir the individuality of those customers.

South Korea reportedly indicts its erstwhile premier minister. Han Duck-soo connected Friday was accused of abetting ousted president Yoon Suk Yeol's imposition of martial instrumentality successful December. Meanwhile, ex-first woman Kim Keon Hee, woman of Yoon, faces charges of corruption and bribery.

Another precocious for the S&P 500. The broad-based scale added 0.32% Thursday and closed supra the 6,500 level for the archetypal time. Asia-Pacific markets were mixed Friday. Japanese stocks slipped amid halfway user prices successful Tokyo rising much dilatory successful August.

[PRO] A buying accidental for Orsted shares? Shares of Orsted, 1 of the world's largest developers of offshore upwind farms, plunged 40% successful August amid a backing contented and a stop-work bid connected its project. But 1 expert conscionable upgraded its banal to a "buy."

Elephant-dragon tango: Modi’s sojourn to China signals improving ties — volition the bonhomie last?

When Foxconn recalled hundreds of Chinese engineers from a mill successful India past month, reportedly following Beijing's directions to curb exertion transportation to its neighbor, it was a reminder of the uneasy ties betwixt 2 of Asia's largest economies.

But with some countries facing tariff vigor from Washington, could economical challenges propulsion Beijing and New Delhi toward reluctant cooperation, transforming their adversarial relationship?

— Priyanka Salve