Market preview: Stock futures and EU shares sink after U.S. GDP unexpectedly contracts in Q4,...

|By:, SA News Editor
Market preview: Stock futures and EU shares sink after U.S. GDP unexpectedly contracts in Q4, led by a plunge in defense spending. "This is one chink in the armor of the recent better-than-expected economic indicators," says analyst Wayne Kaufman. "If it turns out Sandy and the fiscal cliff were the reasons for (the contraction), people will shrug it off." The S&P benchmark is -0.3%. Later: FOMC announcement