Reuters logo
US STOCKS-Futures flat ahead of GDP, jobs data
September 28, 2017 / 11:33 AM / 3 months ago

US STOCKS-Futures flat ahead of GDP, jobs data

* Futures lower: Dow 18 pts, S&P 1.5 pts, Nasdaq 6.25 pts

By Sruthi Shankar

Sept 28 (Reuters) - U.S. stock index futures were little changed on Thursday as investors assessed the new tax plan, while waiting for economic data including second-quarter GDP numbers and a weekly jobs report.

* Expectations for a third interest rate hike this year were boosted by recent comments from Federal Reserve Chair Janet Yellen and a stronger-than-expected data on U.S. durable goods orders on Wednesday.

* The U.S. Commerce Department’s final estimate of second-quarter gross domestic product is expected to show the economy grew at a 3.0 percent annualized rate, unchanged from the prior reading. The data is due at 8:30 a.m. ET (1230 GMT).

* The report from the Labor Department is likely to show initial jobless claims for the week ended Sept. 23 increased by 11,000 to 270,000 after unexpectedly falling in the previous week.

* Wall Street rose on Wednesday as gains in financial shares were powered by growing expectations for a December interest rate hike and on hopes President Donald Trump’s administration may be making progress on a tax plan.

* Trump proposed on Wednesday the biggest U.S. tax overhaul in three decades, calling for tax cuts for most Americans, but prompting criticism that the plan favors business and the rich and could add trillions of dollars to the deficit.

* Federal Reserve Bank of Kansas City President Esther George is scheduled to make appearance later in the day. Her speech comes a day after Boston Fed President Eric Rosengren said regular rate hikes are needed to avoid overheating a U.S. economy in which inflation is only temporarily weak.

* U.S.-listed shares of Deutsche Bank rose 3.32 percent after a Moody’s report said it maintained stable outlook for Germany’s banking system.

* Medical device maker Dexcom slumped 18.7 percent after the U.S. FDA approved Abbott’s glucose monitoring device.

* Blackberry’s U.S.-listed shares jumped 9.10 percent after the company posted a rise in quarterly adjusted profit as sales at its closely watched software business hit a record.

Futures snapshot at 7:00 a.m. ET:

* Dow e-minis were down 18 points, or 0.08 percent, with 17,005 contracts changing hands.

* S&P 500 e-minis were down 1.5 points, or 0.06 percent, with 106,202 contracts traded.

* Nasdaq 100 e-minis were down 6.25 points, or 0.11 percent, on volume of 24,692 contracts. (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D‘Silva)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below