Reply #11: Stock futures point to flat start ahead of GDP [View All]

[ozymandius]

LONDON (Reuters) - Stock futures were largely flat on Thursday, suggesting Wall Street stocks may steady after Wednesday's rally as the market keeps an eye on first-quarter growth data and corporate earnings.

The GDP report, due at 8:30 a.m. EDT, will offer a second look at first-quarter growth, but will include an initial look at the impact of first-quarter corporate profits after declines in the last two quarters of 2007.

A Reuters poll of economists shows U.S economic growth was probably stronger than originally reported, with growth of 0.9 percent, compared with the 0.6 percent reported last month.

By 6:10 a.m. EDT, June Dow Jones futures were down 0.12 percent, while Standard & Poor's 500 futures and Nasdaq 100 futures were flat. The indicative Dow Jones index was down 0.91 percent.

http://news.yahoo.com/s/nm/20080529/bs_nm/markets_stocks_dc_28