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Indexes: Dow flat, S&P 500 up 0.11%, Nasdaq up 0.22%

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Humana up after raising annual profit forecast

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Visa falls after leaving full-year forecasts unchanged

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U.S. GDP up 3% in Q2

(Updates with market open prices)

By Nikhil Sharma and Pranav Kashyap

July 30 (Reuters) - Wall Street held its ground on

Wednesday, as investors digested robust GDP numbers and looked

ahead to the Federal Reserve's policy decision and earnings from

major technology companies.

At 09:43 a.m., the Dow Jones Industrial Average rose

1.42 points to 44,632.50, the S&P 500 gained 7.20 points,

or 0.11%, to 6,378.06 and the Nasdaq Composite gained

47.19 points, or 0.22%, to 21,145.48.

U.S. economic growth rebounded in the second quarter,

beating expectations, but the reality remains grim as most of

the boost came from waning imports, while domestic demand only

inched higher.

"The market's taking some reassurance from the headline

number, but the more you dig into it, the more concerned that

you get," said Ben Laidler, head of equity strategy at Bradesco

BBI.

"It puts the Fed in a tougher position, with the rise coming

in higher than expected. There's a huge amount of tariff noise

in this reading."

Following the data, traders dialed back their bets on a

September Fed rate cut, with the odds slipping to 57% from 64%,

according to CME's FedWatch tool.

While analysts anticipate little drama from the Fed

decision, investors will be parsing Chair Jerome Powell's

comments for any hints on future policy direction, especially as

the central bank navigates political pressure and assesses the

effects of tariffs on inflation.

The latest ADP report showed private payrolls grew by

104,000 in July, topping forecasts of 75,000, ahead of Friday's

all-important nonfarm payrolls release.

Investors are now placing their bets on results from

megacaps to steer Wall Street to new highs. Microsoft ( MSFT )

and Meta Platforms ( META ) will report their results after the

market closes, while Amazon ( AMZN ) and Apple ( AAPL ) will

report on Thursday.

A burst of upbeat earnings from consumer favorites

underscored the resilience of American shoppers.

Starbucks ( SBUX ) posted better-than-expected third-quarter

sales, but its shares slipped 1.3%.

Hershey gained 4% on results that topped forecasts.

VF Corp ( VFC ), parent of Vans, jumped 22%, while Kraft Heinz ( KHC )

was largely steady after both companies beat quarterly

revenue estimates, adding to the consumer-driven rally.

Still, caution crept into markets after U.S. President

Donald Trump slapped a 25% tariff on Indian imports starting

August 1, vowing no deadline extensions for trading partners

without a deal in place.

Meanwhile, U.S.-China trade talks wrapped up with both sides

seeking to extend their tariff truce, leaving the final call in

Trump's hands.

South Korea was also lobbying to secure a trade deal ahead

of Trump's August 1 deadline as its officials met U.S. Commerce

Secretary Howard Lutnick in Washington.

Among other earnings moves, Humana gained 10% after

the health insurer raised its annual profit forecast.

Global payments processing company Visa fell 2.3%,

despite beating estimates for third-quarter earnings, as it kept

its annual net revenue growth forecast unchanged.

Declining issues outnumbered advancers by a 1.18-to-1 ratio

on the NYSE, while advancing issues outnumbered decliners by a

1.22-to-1 ratio on the Nasdaq.

The S&P 500 posted 14 new 52-week highs and four new lows,

while the Nasdaq Composite recorded 25 new highs and 39 new

lows.

(Reporting by Nikhil Sharma and Pranav Kashyap in Bengaluru;

Editing by Shinjini Ganguli)