Wall Street Opens Flat Following Strong Q2 GDP Growth

Wall Street began Wednesday's trading session with little movement, as investors digested the latest GDP figures revealing a stronger-than-anticipated 3% annual growth for the U.S. economy in the second quarter. All eyes are now on the Federal Reserve, with its monetary policy decision expected to be announced later in the day.

Trump Announces New Tariffs on India

In a separate development, President Donald Trump has declared a 25% tariff on India, effective August 1, alongside penalties for the country's purchase of Russian oil, signaling escalating trade tensions.

Market and Currency Movements

The Dow Jones and the S&P 500 showed minimal changes at the opening, whereas the Nasdaq 100 saw a slight increase of 0.11%, buoyed by a significant 9.59% surge in Marvell Technology shares. On the forex front, the euro experienced a decline, dropping 0.72% against the dollar to 1.14624 by 9:29 am ET.