Wall Street shifts focus to GDP

Wall Street shifts focus to GDP

Wall Street shifts focus to GDP Wall Street reacted positively to Wednesday’s Fed announcement on interest rates but Thursday’s session will be dominated by GDP figures. A Reuters poll of analysts expects growth of 2.6 per cent for the US economy in the second quarter and that Q1’s 0.2 per cent decline will be revised higher. Meanwhile Asian indexes closed mixed with some strong earnings in some markets but continued concern over China still creating caution. Shanghai was down more than 2 per cent. European markets are largely higher following the Fed announcement and with some strong regional earnings.
US stock futures are trending flat. Oil is trending higher (Brent $54.17, WTI $49.24 at 6.15am ET). Gold is trending lower.
 
Today’s data
GDP at 8.30am ET
Jobless claims at 8.30am ET
Bloomberg Consumer Comfort Index at 9.45am ET
EIA natural gas report at 10.30am ET
Farm prices at 3pm ET
Fiat Chrysler, Time Warner Cable and Virgin America are among the companies reporting earnings today.