Seeking Alpha

Stock futures add to gains on strong GDP data

  • Stock futures add to modest gains after Q3 economic growth was revised upwards to a higher than expected 4.1% from 3.6%; S&P +0.2%, Dow +0.1%.
  • Nasdaq +0.3%, with Blackberry +2% after revealing a five-year deal with Foxconn to make phones in Indonesia, and Red Hat +15% after Q3 results beat views and raising guidance.
  • After yesterday's uneventful session with below-average volume, action could pick up a bit with quadruple witching and quarterly rebalancing taking place.
  • European markets edge higher after German consumer confidence topped expectations, while Chinese stocks closed at a 17-week low.
  • Treasurys hover near their lows with the 10-year yield up 2 bps at 2.95%.
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