That marked a sharp rebound from the first quarter's 0.5% contraction, when tariff fears curbed business activity. The acceleration contrasts with softer summer labor readings that signaled some cooling.
With days left in the fiscal year and no full-year funding or stopgap deal, the government could shut down at 12:01 a.m. Oct. 1, stalling services, furloughing workers and weighing on growth.
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Still, jobless claims late in the week came in far below expectations, suggesting layoffs remain limited and the labor market resilient despite Federal Reserve concerns.
Earnings
Accenture plc (NYSE: ACN) reported fourth-quarter revenue of $17.6 billion, topping expectations, with bookings rising 3% to $21.3 billion.
The company issued fiscal 2026 guidance in line with forecasts but announced another restructuring to fund AI-related investments.
Micron Technology, Inc. (NASDAQ: MU) reported fourth-quarter revenue of $11.32 billion, beating analyst estimates of $11.22 billion.
BlackBerry Limited (NYSE: BB) reported second-quarter earnings of $0.04 per share, which beat the analyst consensus estimate of $0.01.
Costco Wholesale Corporation (NASDAQ: COST) reported fourth-quarter revenue of $86.16 billion, beating analyst estimates of $86.12 billion.
Technology
Microsoft Corporation (NASDAQ: MSFT) suspended specific services used by an Israeli military unit, following a media investigation that uncovered the unit’s reported mass surveillance of Palestinian phone calls.
Meta Platforms (NASDAQ: META) is broadening access to its Llama AI models for ...
