This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Stock Futures Slide Before 3rd-quarter GDP Report


NEW YORK (AP) â¿¿ Stock futures are lower after the government says the economy continues to grow at a sluggish pace.

The gross domestic product, the broadest measure of the nation's economy, grew at a 2 percent rate during the third quarter. That's in line with what economists had forecast.

Traders are cautious about the health of the economy, particularly ahead of next week's midterm elections and amid speculation over the size of economic stimulus measures expected from the Federal Reserve.

Dow Jones industrial average futures are down 24, or 0.2 percent, at 11,025. S&P 500 futures are down 4, or 0.3 percent, at 1,176, while Nasdaq 100 futures are down 7, or 0.3 percent, at 2,119.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

NEW YORK (AP) â¿¿ Stock futures fell Friday as investors grew more cautious before the government provides its first look at how fast the economy expanded during the third quarter.

Uncertainty heading into next week's midterm elections and speculation over the size of economic stimulus measures expected from the Federal Reserve have also added to the guarded tone hanging over the market.

Economists expect the gross domestic product grew at a meager 2 percent annual rate during the third quarter, far short of what would be needed to reduce the high unemployment rate. However, a 2 percent economic growth rate would mark a small improvement from the 1.7 percent rate reported during the second quarter.

The pace of growth will be closely watched because it is the broadest measure of economic growth. The data could also play a role in how much money the Fed decides to spend on an expected stimulus program. Stocks rose sharply during the first half of October as expectations mounted that the Fed would start buying Treasury bonds to drive interest rates lower. That, in turn, is supposed to spark spending and lending. But in recent days, the size of the bond-buying program has been questioned, putting a market rally on hold.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs