U.S. Economy Powers On With Upgraded Q2 GDP Nowcasts Despite Risks

The latest institutional outlook highlights U.S. economic resilience, with the New York Fed and Atlanta Fed nowcasting Q2 GDP growth at 2.7% and 3.3% respectively, well above the 1.6% Q1 pace. This follows Oppenheimer Asset Management's June 15 reaffirmation of a constructive stance on equities, which argued markets could extend gains once Middle East tensions ease and macro clarity improves. Analysts view strong June jobs data and broadening infrastructure/AI capital spending as signs the expansion is solidifying, keeping portfolios tilted toward U.S. financials, industrials, and technology while treating recent volatility as a normal reset rather than a warning signal.