Futures Recede Back Into Negative Territory on Strong GDP, Initial Claims

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The stock market is on track to open lower for the fifth consecutive day after a steep upward revision to Q3 GDP and upbeat initial jobless claims leaves the stock market vulnerable to further losses as the Fed now has plenty of ammunition to reduce fiscal stimulus in early 2014. Stock market participants retreated to the sidelines ahead of the data, cautiously optimistic that this morning's data, specifically GDP, would eliminate any recent fears for the Fed to respond to better economic conditions. But the revision to Q3 GDP to 3.6% from 2.8% coupled with a 23,000 drop in claims sent futures back into negative territory.




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As of 12/17/2014, 04:15 PM


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