US Q2 GDP is set for another big gain

GDP data coming up at the bottom of the hour

US GDP data is coming up at the bottom of the hour and the consensus estimate is for an 8.4% annualized reading with estimates ranging from 5.6% to 11.9%. The Atlanta Fed tracker is at 6.4%.

I don't see a big scope for a market move on the results but I'll be watching inventories to get a sense of what will spill into Q2. Household spending will also offer a key input on the strength of the consumer.