Good morning and welcome to Friday — it's July 28 and you're reading the ABC's business and markets blog.

Let's start in the US, where the Dow broke its significant winning streak overnight.

Until trade yesterday the Dow had gained for 13 straight days — making it the longest winning streak for the index since 1987 — but as the dust settled after the Federal Reserve's latest interest rate decision, so too did the momentum in the markets.

Investors had been pondering comments made by Jerome Powell that the Fed may begin to slow rate hikes and a recession is looking less likely, but that conversation was put on the backburner after the release of better than expected economic news.

Economic growth in the US, or GDP, expanded much faster than the market had anticipated, coming in at 2.4% for the second quarter of the year. Analysts had been expecting a lower growth figure of  around 1.8%.

But that wasn't the only good news — durable goods orders (think appliances, cars, computers, and anything that's meant to last for at least three years) gained 4.7% for the month, and the number of people claiming unemployment benefits in the US was better than expected, too.

That all culminated in seeing some sharp gains for US Treasury bonds, with two-year bond yields rising to 4.9%, and 10-year yields reaching 4%.

So how is that going to impact us here today?

Well, by all accounts the local share market is set for a lower opening, with futures down slightly this morning.

And depending on how the latest retail sales numbers look when they're released at 11:30am, we could see that weakness continue — but more on that a bit later.

But for the time being, grab a coffee, settle in, and tell me how you're feeling about the Matildas World Cup campaign after last night's loss to Nigeria (if it's not too soon, of course).