Futures up for second day ahead of GDP report

US stock futures rising; no GDP growth revisions expected in US; China tries to calm markets

Associated Press
Traders 'take a breather,' buying stocks and bonds
.

View photo

In this Monday, June 10, 2013 photo, traders work on the floor of the New York Stock Exchange. Global stock markets staged a modest recovery Wednesday, June 26, 2013 boosted by strong data releases that portray a U.S. economy on the upswing. (AP Photo/Richard Drew)

NEW YORK (AP) -- Stock futures are rising ahead of the final report on first-quarter growth in the U.S., and what appears to be a retreat by China, which had earlier indicated that it would not keep its commercial banks supplied with cash as credit tightens.

Dow Jones industrial futures are up 50 points to 15,214. S&P futures have added 6.6 points to 1,588. Nasdaq futures are up 14.75 points to 2,873.

The government is expected to report annual U.S. economic growth of 2.4 percent for the first three months of the year. Economists say that growth has slowed in the current quarter, but predict stronger growth later this year.

China made an abrupt U-turn a day after essentially saying that commercial banks would have to fend for themselves as credit tightens.

Rates

View Comments (0)