
Q1 GDP Revised to 1.6% Growth; Markets Decline on Oil Surge June 3
The second estimate for U.S. real GDP growth in the first quarter of 2026 was revised upward to a 1.6% annualized rate, released June 3, reflecting stronger investment and exports. Equity markets retreated the same day, with the Dow falling 1.21% and the S&P 500 declining 0.74% amid rising oil prices linked to geopolitical tensions. ADP private payrolls for May came in at 122,000, while the latest Beige Book highlighted mixed regional conditions. Investors are monitoring these signals ahead of the June 16-17 FOMC meeting.