Stock Futures Push Higher as GDP Data Beat Views


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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.

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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 (NASDAQ:BBRY) posted a substantially wider-than-expected quarterly loss, and revealed a deal with manufacturing giant Foxconn to make cheaper devices. Jones Group (NYSE: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.

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