Higher open seen for stocks

By CNNMoney.com staff


LONDON(CNNMoney.com) -- U.S. stocks were poised for a positive start Friday after preliminary government figures showed the nation's economy continued to grow for the third straight quarter.

Dow Jones industrial average, S&P 500 futures and Nasdaq 100 futures were slightly higher.

Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins.

U.S. stocks rallied Thursday after a slew of strong earnings reports. The blue-chip Dow gained 122 points, or 1.1%. The S&P 500 and Nasdaq also both gained more than 1%.

Economy: U.S. gross domestic product, the broadest measure of economic activity, rose at a 3.2% annual rate in the first quarter, the Commerce Department said.

It was the third consecutive quarter of economic growth, but the pace was slower than the 5.6% growth rate in the fourth quarter.

Economists surveyed by Briefing.com had expected a 3.3% rate.

Still to come, a survey on business conditions in Chicago and its surrounding areas is due to be released after the open, as is the University of Michigan's consumer sentiment index.

Companies: Stocks to watch include Goldman Sachs (GS, Fortune 500), which reportedly is the target of a criminal investigation by federal prosecutors. Shares fell 3% in premarket trading.

Continental (CAL, Fortune 500) and UAL Corp.'s (UAUA, Fortune 500) United Airlines are also in focus after the Wall Street Journal reported that the two are close to a merger deal.

World markets: European shares posted early gains. Germany's DAX rose 0.7% in morning trading. Britain's FTSE 100 and the CAC 40 in France edged higher about 0.1%.

Asian markets also pulled out a gain. The Hang Seng in Hong Kong jumped 1.6% and Japan's Nikkei climbed 1.2%.

Other markets: The dollar was down versus the euro and was little changed versus the yen. It fell against the yen.

Oil prices fell 56 cents to $85.67 a barrel. Gold prices were up $6.40 to $1,174.80 an ounce.

Bond prices rose, with the yeild on the benchmark 10-year U.S. Treasury bond at 3.74%.  To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 31,391.52 -143.99 -0.46%
Nasdaq 13,358.79 -230.04 -1.69%
S&P 500 3,870.29 -31.53 -0.81%
Treasuries 1.42 -0.03 -2.14%
Data as of 3:00am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET

Sections

Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.