Reply #29: futures turning negative [View All]

[ozymandius]

08:57 am : S&P futures vs fair value: -1.9. Nasdaq futures vs fair value: -1.5. Futures now indicate a slightly lower start to the day as selling pressure picks up following the in-line economic data.

08:32 am : S&P futures vs fair value: +1.7. Nasdaq futures vs fair value: +3.5. Futures have a muted reaction as two in-line economic reports hit the wires. There was a total of 372,000 jobless claims for the week ended May 24, which is very close to the consensus estimate of 370,000. Separately, the preliminary first quarter GDP reading showed growth of 0.9%, in-line with expectations. Core PCE was revised to 2.1% from 2.2%.