The US economy is still on track to expand in the upcoming second-quarter GDP report, but today’s revised estimate marks a slowdown from recent nowcasts, based on the median estimate via several sources compiled by CapitalSpectator.com

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* China plans a new military training facility in Cuba–90 miles off US coast
* China cuts key lending rate for loans and mortgages to shore up slowing growth
* Bipartisan group of US lawmakers will urge US automakers to cut China ties
* China imports of Russian oil rise to highest level since Ukraine invasion
* Fed Chairman Powell will explain rate pause in Congress this week
* US homebuilder sentiment continues rebounding in June to 11-month high:

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