Stock Futures Push Higher as GDP Data Beat Views

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Published December 20, 2013

| FOXBusiness

FOX Business: Capitalism Lives Here 

U.S. stock-index futures posted mild gains Friday as traders mulled data that showed the U.S. economy grew substantially quicker than expected in the third quarter. 

Today's Markets

As of 8:37 a.m. ET, Dow Jones Industrial Average futures climbed 22 points, or 0.14%, to 16137, S&P 500 futures gained 4 points, or 0.22%, to 1806 and Nasdaq 100 futures climbed 8 points, or 0.23%, to 3501.

The S&P 500 has climbed 1.9% this week as traders cheered what they see as mild and even-handed plans to pare back the Federal Reserve's vast bond-purchasing program. 

The economic docket is fairly light on the day.

The Commerce Department said the U.S. economy grew at an annual pace of 4.1% in the third quarter, the biggest rise since the fourth quarter of 2011, revised sharply higher than a previous estimate of 3.6%. Economists expected no change to the GDP reading.

On the corporate front, BlackBerry (BBRY) posted a substantially wider-than-expected quarterly loss, and revealed a deal with manufacturing giant Foxconn to make cheaper devices. Jones Group (JNY) shares surged after the apparel maker said it's being bought by Sycamore Partners. 

In commodities, U.S. crude oil futures climbed 97 cents, or 0.99%, to $98.77 a barrel. Wholesale New York Harbor gasoline gained 0.33% to $2.749 a gallon. Gold dipped $2.10, or 0.18%, to $1,192 a troy ounce. 

URL

http://www.foxbusiness.com/markets/2013/12/20/stock-futures-tick-up-ahead-gdp-data/