Stock Market Today: Futures Up as GDP Revised Higher; Gross Quits Pimco

NEW YORK (TheStreet) -- U.S. stock index futures were pointing to a better start on Wall Street Friday after the deep selloff of the prior session attracted bargain-hunters and the third estimate of second-quarter GDP was revised higher. 

The U.S. economy expanded by 4.6% in the second quarter, the government said Friday, matching estimates and coming in higher than the prior estimate of 4.2%.

Meanwhile, Pimco founder Bill Gross announced Friday he was resigning from the bond giant and would be joining Janus Capital (JNS) on Monday.

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A number of better-than-expected earnings reports, particularly from Nike (NKE) , were helping the lead the markets higher.

Dow Jones Industrial Average futures were 37 points higher, or 81.2 points above fair value. S&P 500 futures rose 3.25 points, or 7.01 points above fair value. Nasdaq futures were up 9.3 points, or 18.48 points above fair value.

Apple (AAPL)  shares appeared to be recovering after playing a substantial role behind the Nasdaq's pronounced drop on Thursday. Apple released a new update late Thursday that the tech giant said would repair the problems caused by software it released Wednesday morning. Shares were up 0.51% in premarket trading. 

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U.S. stocks nosedived Thursday in their biggest down day since July 31 as investors reacted to news of bombings in the Middle East and heightened terrorist threat levels on U.S. and French soil. The negativity only exacerbated an end-of-quarter sell-ff already in progress. Apple shares ended Thurday's session down nearly 4%.

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