Gdp Data Draws Interest
Stock-index futures in the US were minimally changed during early trading today as investors, traders and analysts pondered a bigger-than-anticipated gross domestic product during the first quarter of this year.
Friday, May 30, 2014 - 00:00
That marked the first losses in 36 months. The globe's largest economy contracted about 1% from January through March, as firms augmented supplies more slowly and cut down on investment. But that contraction is likely to be temporary given stronger activity thus far during the second quarter. Just after 10:00 AM in New York, the Nasdaq had climbed 0.35%, a rise of 14.74 points to 4,239.46, the S&P 500 increased 0.23%, a lift of 2.98 points to 1,912.76, and the Dow rose 0.13%, a climb of 21.06 points to 16,654.24.
Retailers are reporting increased amounts of receipts, manufacturing is on the rise and job creation is expanding quickly. Such optimism was echoed by policy makers with the Fed last month, who noted during two days of policy meetings that the economy was bouncing back after much of the nation endured severe cold weather earlier this year.
As the week came to a close last Saturday, applications for unemployment benefits in the US dropped by 27,000 to amount to 300,000, according to data provided by the US Department of Labor. That exceeded projections of poll subjects surveyed by the news source. Economic data regarding the housing market is slated for release on Thursday morning. Pending homes sales data for last month advanced 1 percent, according to a survey of economists. The metric increased 3.4 percent during March.
Stocks likely to rise
Reuters reports stock prices are likely to advance during the Thursday trade session due to the stronger economic performance in the US. For that reason, the S&P 500 might push past its all-time high, which was established earlier during this trade week. The strengthening labor market also could aid that stock index' rise.
Treasuries set for maturity in 10 years edged up in value though they continued hovering near their lowest value since June of last year. In turn, that could prompt the interest of investors. Both the Dow and Nasdaq also are poised to climb as the Thursday trade session continues.
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