30 Jan 2015
Weak GDP to weigh on stock markets
FXStreet (Mumbai) - The Stock markets in the US are likely to fall for the third time in four sessions after the US GDP came-in weaker than expected.
At the time of writing, the DJIA futures traded 1.02% lower at 17,254.00 levels, while the S&P futures traded 0.98% lower at 1998.65 levels. Meanwhile, NASDAQ and Russell futures were up 0.44% and 0.84% at 4167.70 and 1179.80 levels respectively. The VIX futures trade 4.98% higher at 19.98 levels.
Weak GDP to weigh on stock markets
The commerce department data showed U.S. gross domestic product climbed by 2.6% in the fourth quarter following the 5.0% jump seen in the third quarter. Economists had expected a print of 3.00%. The weaker than expected GDP growth was partly due to a notable slowdown in the pace of export growth, which underscores the impact of the strong US dollar.
Meanwhile, it is reported that in a private luncheon with Senate Democrats on Thursday, Federal Reserve Chair Janet Yellen said the U.S. economy is strong, but did express some concerns regarding the situation in the global economy. The Fed statement released earlier this week also expressed similar concerns.
In the meantime, markets will also continue to digest the latest batch of earnings news, including quarterly results from Google, Amazon, and Visa.
At the time of writing, the DJIA futures traded 1.02% lower at 17,254.00 levels, while the S&P futures traded 0.98% lower at 1998.65 levels. Meanwhile, NASDAQ and Russell futures were up 0.44% and 0.84% at 4167.70 and 1179.80 levels respectively. The VIX futures trade 4.98% higher at 19.98 levels.
Weak GDP to weigh on stock markets
The commerce department data showed U.S. gross domestic product climbed by 2.6% in the fourth quarter following the 5.0% jump seen in the third quarter. Economists had expected a print of 3.00%. The weaker than expected GDP growth was partly due to a notable slowdown in the pace of export growth, which underscores the impact of the strong US dollar.
Meanwhile, it is reported that in a private luncheon with Senate Democrats on Thursday, Federal Reserve Chair Janet Yellen said the U.S. economy is strong, but did express some concerns regarding the situation in the global economy. The Fed statement released earlier this week also expressed similar concerns.
In the meantime, markets will also continue to digest the latest batch of earnings news, including quarterly results from Google, Amazon, and Visa.