Before the bell: Stock futures higher ahead of GDP data - Melly Alazraki

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Before the bell: Stock futures higher ahead of GDP data
Oct 29, 2009 12:35 PM UTC

Melly Alazraki

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Filed under: Before the bell, Exxon Mobil (XOM), Market matters, Sprint Nextel Corp (S), Procter and Gamble (PG), Economic data

U.S. stock futures were mildly higher, indicating a positive open for this Thursday morning following the previous session's sell-off. However, all bets are off before the U.S. releases third quarter gross domestic product that would give a better picture of the state of the U.S. economy and growth. The GDP data will no doubt affect investors' mood once released at 8:30 a.m., or an hour before the opening bell.

Economists expect GDP to have grown at a 3.2% annualized rate in the third quarter, according to Briefing.com after shrinking at an 0.7% annualized rate in the second quarter. If true, it would mean the economy is back on its feet after being knocked over by the worst recession since the 1930s. But many attribute the growth to government support programs such as cash for clunkers and mortgage modification and wonder what the fate of the economy be once gone.

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Before the bell: Stock futures higher ahead of GDP data originally appeared on BloggingStocks on Thu, 29 Oct 2009 07:35:00 EST. Please see our terms for use of feeds.

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