Economic data was not as bad as some had feared. Second-quarter GDP rose to an annual 2.8% pace, which was better than the median estimate of a 2.7% gain. Also, the Federal Reserve Chief Greenspan's comments were not market-moving.
Markets & Finance
Treasuries End Lower
Treasuries ended lower. New pipeline attacks in Iraq outweighed an end to a three-week uprising in the city of Najaf. Trading was thin as many investors took off for an early weekend before next week's Republican convention.