Hello, friends and Fortune readers.
Stocks are set to move higher Friday after Thursday’s pounding, which saw the Dow fall 264 points. All 30 companies in the Dow index lost value in Thursday’s sell-off, which was one of the year’s worst trading days. Here’s what you need to know about today.
1. The economy gets a report card
A third, and final, estimate of U.S. GDP for the second quarter came out this morning. Just as economists had predicted, growth was revised up to a 4.6 percent pace from the previous 4.2 percent number. The economy had a pretty good spring, so it would have taken a very good report for expectations to be exceeded.
2. Is BlackBerry back?
That may be an overstatement, but the beleaguered Canadian smartphone company posted its latest earnings report today, and the losses were only $0.02 per share. That’s an improvement, if nothing else. If the new BlackBerry (BBRY) Passport smartphone catches on, could the onetime smartphone king really come back from the brink?
3. Apple is striking back
Speaking of smartphone manufacturers with problems, Apple (AAPL) says the issues with the new iPhone 6 and iPhone 6 Plus aren’t all they’re cracked up to be. The company says only 9 users reported bent iPhones, contrary to the reports of an epidemic. The company also released a cleaned-up version of the new iOS, fixing the issues that essentially broke some users’ phones earlier this week.
4. Is Europe a beacon of light for the Dow?
Markets are up across Europe, including in the UK, Germany and France. With the Dow finishing down again yesterday, could these good results across the pond be signs of a potential rally to close out the week?
5. Steve Balmer bans Apple products
It’s a pretty common sight to see basketball coaches using iPads court side to draw up plays. LA Clippers coach Doc Rivers will have to find a new tablet, because new owner and former Microsoft CEO Steve Ballmer told Reuters he’s banning Apple products from his new team.