Making sense of a wonky GDP reading

Meta’s shares jumped more than 10 per cent off the back of better than expected second-quarter earnings, and the Federal Reserve held rates steady despite calls to lower borrowing rates by US President Donald Trump. Plus, American copper prices fell after Trump exempted refined materials from a 50 per cent tariff on the metal, and HSBC profits declined by 29 per cent. Mentioned in this podcast:Meta shares jump on strong results as Zuckerberg sets out ‘superintelligence’ goalsFed holds rates steady despite Trump’s calls for lower borrowing costsUS copper prices fall after Trump exempts refined metals from tariffs HSBC profits slide 29% on hit from China and restructuringToday’s FT News Briefing was produced by Henry Larson, Sonja Hutson, and Marc Filippino. Additional help from Blake Maples, Michael Lello, David da Silva and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.