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Stocks Start Trading Lower but Cut Losses on Economic Data

Susannah Lee
8/28/14 9:58 AM EDT
U.S. markets started the trading day lower Thursday on worries overseas after Ukraine's president said Russian forces invaded their territory. But stocks did rebound from deeper losses in the pre-market on some positive economic data. The second estimate for Q2 GDP came in better than expected. Growth increased 4.2 percent, stronger than initially thought. Separately, jobless claims fell for a second straight week. The number of Americans filing for unemployment benefits remains below 300,000. The FBI is reportedly investigating a computer hacking attack on JPMorgan Chase (JPM). The bank is one of at least four other banks the hackers targeted this month. Earnings before the bell is pushing stocks like Abercrombie and Fitch (ANF) lower. The retailer posted profit that beat estimates but missed revenue expectations. Dollar General (DG) reported quarterly profit in line with analysts' estimates but also missed revenue forecasts. The discount retailer did back its full-year guidance.
Stock quotes in this video: JPM, ANF, DG

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