Stock futures gain despite GDP slowdown


U.S. equity futures had been buying and selling with positive factors regardless of a pointy slowdown in U.S. economic growth. 

The S&P 500 futures point out an increase of 0.3% when the opening bell rings on Wall Road.

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The primary estimate of 3Q GDP, launched Thursday morning, confirmed a seasonally adjusted annual development fee of two%, sharply under the 6.7% tempo of development within the second quarter.

Jobless claims got here in at 281,000 barely under the prior week’s 290,000. 

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On the identical time, the Labor Division is out with its tally of recent claims for unemployment advantages for final week. Expectations are for 290,000, unchanged from the pandemic low within the earlier week. Persevering with claims, which monitor the entire variety of unemployed employees accumulating advantages, are anticipated to fall by 66,000 to a different pandemic low of two.415 million.

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Later within the morning, the Nationwide Affiliation of Realtors is out with its index of pending house gross sales for September. Economists surveyed by Refinitiv anticipate the index to stay unchanged after a a lot stronger-than-expected 8.1% leap in August as consumers rushed into the market. 

The earnings parade continues with earlier than the opening bell outcomes from two extra Dow members – heavy tools maker Caterpillar and drug maker Merck. 

Afternoon reviews will likely be highlighted by Apple, Amazon and Starbucks.

Ford stated it will resume paying a dividend, 10 cents per share, beginning within the fourth quarter. It’s going to value the corporate about $400 million per quarter. Ford’s inventory is up 10% in premarket buying and selling.

The European Central Financial institution is anticipated to maintain coverage unchanged Thursday and push again in opposition to rising expectations for an rate of interest hike subsequent yr. 

London’s FTSE slipped 0.3%, Germany’s DAX was off 0.2% and France’s CAC was 0.2% greater.

In Asia, Tokyo’s Nikkei 225 index misplaced 0.9% after the Financial institution of Japan saved its financial coverage unchanged at a gathering that wrapped up Thursday. It downgraded its development forecast for the fiscal yr ending in March to three.4% from the three.8% estimate it issued in July. 

In Hong Kong, the Grasp Seng gave up 0.4%, whereas China’s Shanghai Composite index dropped 1.2%.

Ticker Safety Final Change Change %
I:DJI DOW JONES AVERAGES 35950.56 +196.67 +0.55%
SP500 S&P 500 4725.79 +29.23 +0.62%
I:COMP NASDAQ COMPOSITE INDEX 15653.373957 +131.48 +0.85%

In New York on Wednesday, the S&P 500 slipped 0.5% to 4,551.68. The Dow Jones Industrial Common misplaced 0.7% to 35,490.69. Each it and the S&P 500 had logged document highs the day earlier than.

The Nasdaq edged up lower than 0.1% to fifteen,235.84.

Lengthy-term bond yields fell considerably and weighed down banks, which depend on greater yields to cost extra profitable curiosity on loans. The yield on the 10-year Treasury fell to 1.53% from 1.61% late Tuesday. It was regular at 1.55% early Thursday.

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On Wednesday, U.S. crude oil costs fell 2.4% and pushed power shares decrease. Exxon Mobil dropped 2.6%.

On Thursday, U.S. benchmark crude misplaced 81 cents to $81.86 per barrel. Brent crude, the idea for worldwide pricing, declined 86 cents to $83.72 per barrel.

The Related Press contributed to this report.



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