GDP Weakness Edges U.S. Closer to Recession

Europe is literally right on the edge of recession, with GDP barely in the positive, and a likely next-month revision that will push them over the edge.

Here from Zero Hedge on US GDP:
The first revision to Q1 GDP printed at 1.0%, down from the preliminary Q2 GDP print of 1.3%, and as expected was worse than Wall Street consensus of -1.1%, although it was certainly not as bad as the miss to the preliminary number.

Stocks have dipped into the red as a result, but only moderately.

Next up: Ben Bernanke's Jackson Hole speech in just over an hour.