Futures pare losses as third-quarter GDP growth slows less than expected

Image
Reuters
Last Updated : Oct 26 2018 | 6:25 PM IST

(Reuters) - U.S. stock index futures pared some losses on Friday after economic data showed that the U.S. economy grew at a lower pace than expected.

Compared to the third quarter of 2017, the economy grew 3.0 percent, the best performance since the second quarter of 2015, while economists polled by Reuters had forecast GDP expanding at a 3.3 percent pace in the third quarter.

At 8:34 a.m. ET, Dow e-minis were down 181 points, or 0.73 percent. S&P 500 e-minis were down 25.75 points, or 0.96 percent and Nasdaq 100 e-minis were down 130.75 points, or 1.89 percent.

A minute before the data came out, Dow e-minis were down 0.87 percent, S&P 500 e-minis were down 1.12 percent and Nasdaq 100 e-minis were down 2.04 percent.

(Reporting by Amy Caren Daniel in Bengaluru; Editing by Shounak Dasgupta)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 26 2018 | 6:20 PM IST

Next Story