American stock futures stand still ahead of Q3 GDP
On Friday, Wall Street futures pointed to a flat start, as market participants remained cautious as for the upcoming growth data and its implication for the future path of Fed monetary policy, while earnings season reached the halfway mark and attention shifted to the technical gathering in Vienna where crude producers would haggle out details on the possibility of dropping crude output.
The blue-chip Dow futures earned 0.13%, the S&P 500 futures soared 0.16%, while the tech-heavy Nasdaq 100 futures ascended 0.09%.
Friday’s spotlight is going to be on the preliminary data on third quarter GDP a bit later on Friday. However, the risk for markets may be to the downside as Fed regional financial institutions forecast lower growth than expectations.
Consensus expects the reading to demonstrate a considerable strengthening from the second quarter’s 1.4% surge to a 2.5% expansion.
The latest Atlanta Fed projection issued on October 27 appeared to be 2.1%, while the New York Fed’s prediction from October 21 was 2.2% growth.