Stock futures up ahead of GDP; Facebook falls
Starbucks pressured as Europe weighs on outlook
FRANKFURT (MarketWatch) — U.S. stock futures traded near unchanged Friday as investors awaited data expected to confirm a further economic slowdown in the second quarter that bulls hope will spur a further round of monetary stimulus, while Facebook Inc. shares headed for a sharply lower start after its earnings report spooked traders.
Futures on the Dow Jones Industrial Average (CBOT
JU2) rose 25 points to 12,850.3.
S&P 500 Index futures (GLC:SPU2) gained 1.9 points to 1,356.70, while Nasdaq-100 futures (CME:NDU2) added 6.5 points to 2,579.
The Commerce Department will release its estimate of second-quarter U.S. gross domestic product at 8:30 a.m. Eastern time.
Economists surveyed by MarketWatch forecast second-quarter gross domestic product expanded at a 1.3% annualized pace, slowing from 1.9% in the first three months of the year and 3% in the final quarter of 2011. See GDP preview
“The outcome is likely to be interpreted in the context of Fed stimulus expectations ahead of next week’s [Federal Reserve] policy meeting,” said Ilya Spivak, strategist at DailyFX. “This means a soft print may be counter-intuitively interpreted as supportive for risk appetite in that it is perceived as increasing the chance of further accommodation.”
http://www.marketwatch.com/story/stock-future...2012-07-27
Stock futures up ahead of GDP; Facebook falls Starbucks
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