Futures still quiet, now mixed after GDP growth better than expected
2017-05-26 08:54:31
Stock futures are improved a bit from earlier levels, having turned mixed ahead of the opening bell following the release of several economic data points. The Commerce Department revised U.S. gross domestic product growth to a 1.2% gain in the first quarter from the initially reported 0.7%. Analysts had forecast a smaller bump up to a 0.9% annualized growth rate. The second estimate of Q1 personal consumption growth was raised to 0.6% from the prior 0.3% growth estimate. Durable goods orders for April fell 0.7%, versus expectations for a decline of 1.5%. If transportation items are removed, the core reading showed a decline of 0.4%, versus expectations for a rise of 0.4%. In pre-market trading following the data, Dow futures are 15 points below fair value, Nasdaq futures are up fractionally and S&P futures are 2 points below fair value.