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

  • 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.
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