US futures retreat on US GDP downward revision

Fri, 25 Jun 2010 15:04:00 +0200

US futures retreat on US GDP downward revision

FXstreet.com (Barcelona) - Stock futures in the US market pulled back on news the US economy grew slower than predicted by economists. The revised 2.7% rise in the first quarter of 2010 was unable to match an anticipated 3% growth.

Earlier on, futures upward rhythm filled the market place with timid optimism, although the downbeat data damaged the bullish outlook before the last session of the week begins.

Additionally, lawmakers in the US reached a deal on a new financial regulation bill, expected to be signed off by July 4. The Dow Jones index futures traded 0.20% lower, while the Nasdaq and S&P 500 are still holding weakly above the surface.