US futures climb as traders await earnings, GDP report

U.S. stock index futures moved higher on Friday morning as traders digested corporate earnings, looked ahead to fresh data and weighed the possibility of a less dovish tone from the Federal Reserve next week.

Around 6 a.m. ET, Dow futures indicated a higher open of more than 60 points. The S&P 500 the Nasdaq were also seen higher.

Wall Street ended Thursday’s session lower as investors considered the possibility that the Fed will not be as dovish as expected when it meets next week. This was on the back of strong economic data out on Thursday and comments from the European Central Bank that the risk of a recession in the region is low.


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Traders are currently pricing a cut in rates by a quarter percentage point, not a half point, as some analysts had previously forecast ahead of the Fed’s meeting.

On Friday, traders will be monitoring new economic data, with U.S. gross domestic product (GDP) figures due at 8:30 a.m. ET. The broadest measure of the U.S. economy is expected to come in at 1.8%, according to economists surveyed in CNBC/Moody’s Analytics Rapid Update.

On the earnings front, McDonald’s and Twitter will be among the companies reporting Friday. Late Thursday, Amazon reported mixed results in its second-quarter earnings release and Alphabet reported earnings that beat estimates.

Source: cnbc.com | Original Link

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