Traders Eye Data Deluge as US Equity Futures Decline Pre-Bell

MT Newswires Live
09/25

US equity futures were lower pre-bell Thursday as traders braced for a deluge of economic data, including the quarterly economic growth report.

Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 0.6% lower.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.6% at $68.90 per barrel and US West Texas Intermediate crude 0.7% lower at $64.52 per barrel.

The final reading for Q2 gross domestic product, scheduled for release at 8:30 am ET, is expected to remain unchanged from the last report at 3.3%, according to estimates compiled by Bloomberg.

Also due at 8:30 am ET, the durable goods orders report is expected to show a 0.3% decline in August following a 2.8% decrease in July. Initial jobless claims are expected to come in at 233,000 for the week ended Sept. 20, up from 231,000 the prior week. Trade in goods deficit is seen narrowing to $95.7 billion in August from $103.6 billion previously.

The existing home sales report, due at 10 am ET, is expected to show a decline to a 3.96 million annual rate in August from 4.01 million in July.

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