Stock futures gain on GDP data; Facebook, Google, Visa rally

|By:, SA News Editor

Stock futures extend gains after government data showed the U.S. economy grew at a 3.2% annual pace in Q4, sparked by the biggest rise in consumer spending in three years and a bounce in business investment.

S&P and Dow +0.6%, but Nasdaq +0.8% as Facebook +18% premarket after reporting Q4 earnings and revenue that beat forecasts, boosted by strength in mobile advertising, and Google +3% after agreeing to sell its Motorola Mobility phone-hardware unit to Lenovo.

Among Dow stocks, Visa +4% after earnings and revenue beat estimates amid strong growth in payments volume.

Overseas markets are mostly lower as emerging market currencies remain under pressure following the Fed's decision to continue its taper.

As U.S. equities rise, Treasurys are near their lows with the 10-year yield up nearly 4 bps at 2.72%.

Still ahead: pending home sales, EIA natural gas.