US Stocks Seen Opening Mixed Ahead Of GDP DataMay 3, 2019
U.S. stock futures are trading mixed on Friday as investors looked ahead to the release of U.S. GDP data for additional clues on the strength of the economy.
The pace of U.S. growth is expected to slow to 2.1 percent in the first quarter from 2.2 percent in the fourth quarter.
After the closing bell Thursday, online retail giant Amazon posted a record quarterly profit and said it plans to introduce free one-day shipping for Amazon Prime members.
Capital One’s Q1 earnings and revenues topped forecasts while Intel provided a weaker-than-expected revenue forecast for the year.
Starbucks raised its outlook for the year after reporting better-than-expected earnings.
Exxon Mobil, Chevron, American Airlines Group, Colgate-Palmolive and Goodyear Tire & Rubber are among the prominent companies that will unveil their quarterly results today.
Elsewhere, Asian stocks ended mostly lower in cautious trade, with Chinese markets falling sharply to post their steepest weekly decline since October 2018 as concern deepened about the prospect of the government scaling back stimulus.
European stocks remained subdued in opening trade as investors reacted to a barrage of earnings reports.
On Thursday, U.S. stocks fluctuated before ending mostly lower, as disappointing earnings reports from several industrial sector companies offset strong results from the likes of Facebook and Microsoft as well as encouraging durable goods orders data.
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