Tidbits, U.S. GDP, Tariffs & India, Sep Deliveries, Weather, Export Sales 8/29/25
- Wright team
- Aug 29
- 4 min read
Tidbits
Monday is 1 September, Labor Day. After trade is complete today, no ag commodities will trade until Monday evening. Crude oil will trade normal hours Sunday evening through Monday with a trade date listed as 2 September. Therefore, Monday and Tuesday crude oil trading will both be recorded as one trading day, Tuesday 2 September.
The U.S. GDP grew at a 3.3% annualized rate in Q2, up from the 3% estimate, helped by stronger consumer spending and a notable upgrade in business investment, especially in intellectual property products which expanded at 12.8%, the fastest in four years, and equipment investment revised up to 7.4% from 4.8%. Despite the stronger headline, economists warn that tariff-driven import swings complicate the picture and may drag on growth in the second half; a prior Q1 contraction of 0.5% remains, with full-year 2025 growth seen around 1.5%, down from 2.8% in 2024.
U.S. weekly jobless claims for the week ending August 23 fell 5,000 to 229,000. Continuing claims for the week ending August 16 were 1.95 million, down from 1.96 million the previous week, with a one-week lag. The data come as the Fed considers a September rate cut amid a cooling labor market and slower job creation, though the unemployment rate remains at 4.2% over the past 12 months and there’s no clear uptick in layoffs from the weekly claims trend.
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