Market Expects GDP to Print at 4-Year High
90 minutes ahead of the opening bell and thirty before a GDP release that should show economic growth at a four-year high, equities are trading higher, commodities are mixed, and the dollar is stronger.
A snapshot from 8:00 shows Dow futures up 39 points to 10101 and S&P 500 futures up 4.30 points to 1,083. WTI Crude oil is up 10 cents to $73.74 per barrel but Spot Gold is $2.70 lower to $1,084.40.
The dollar is stronger primarily due to weakness in the yen, according to Benjamin Reitzes from BMO.
“There was a slew of Japanese data out, but the yen’s move was also driven by concern from the minutes of the Bank of Japan’s December meeting about the currency’s strength and volatility,” he said. “The other major currencies are higher except for the euro which is flat and continues to be weighed down by Greek fiscal worries.”
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