This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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

STEPHEN BERNARD

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 17,719.00 +33.27 0.19%
S&P 500 2,052.70 +3.98 0.19%
NASDAQ 4,701.8670 +26.1550 0.56%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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