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The Week Ahead: July 27-31

KEY EVENT: Produce section. The Commerce Department releases its first estimate of second-quarter GDP on Thursday. The closely watched measure of all goods and services produced in the United States is considered the best gauge of the nation's economic growth. In the first quarter, GDP fell 0.2 percent from the fourth quarter of 2014. Economists predict second-quarter GDP will post a 3.4 percent increase.

MONDAY: The Commerce Department releases June durable goods orders, an update on the production of long-lived items such as home appliances, computers and aircraft.

TUESDAY: Case-Shiller home prices for May. Earnings: New Hyde Park shopping centers owner Kimco Realty, Arrow Electronics, Ford, Twitter.

WEDNESDAY: The Federal Reserve ends a two-day meeting with a statement on the economy and an update on interest-rate policy. Also, pending home sales for June from the National Association of Realtors. Earnings: Melville software maker FalconStor, Melville health products distributor Henry Schein, Facebook, MasterCard, Northrop Grumman.

THURSDAY: Jobless benefits claims for the week ended July 25 from the Labor Department. Earnings: Procter & Gamble, Time Warner Cable.

FRIDAY: Consumer sentiment in July from the University of Michigan. Earnings: Uniondale real estate lender Arbor Realty Trust, Exxon Mobil.

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