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Market Extra: Wall Street investors can’t remember the last time a GDP report was so crucial

Wall Street investors just traversed a gantlet: the busiest week of corporate quarterly results, fresh developments in global trade relations and a historic stock tumble by Facebook Inc. However, the headliner of this jam-packed week may be GDP, the official scorecard of the U.S. economy.

As one fixed-income strategist put it, never has a reading of gross domestic product held so much significance, with the three main equity benchmarks — the Dow Jones Industrial Average DJIA, +0.44% the S&P 500 index SPX, -0.30% and the Nasdaq Composite Index COMP, -1.01% — as well as the U.S.

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