Markets

US Stock Futures Practically Unchanged Ahead of Q3 GDP Data

U.S. equities futures hovered around unchanged Tuesday in lighter pre-holiday trading as markets waited for data on the domestic economy.

At 8:30 a.m. E.T., data are expected to show that Q3 GDP grew 2% from Q2, when GDP growth was 2.1%. The consensus range is between 1.7% and 2.2%, according to data compiled by Econoday.

At 10:00 a.m., existing home sales for November are expected to have edged down to 5.32 million from 5.36 million in October. The consensus range is between 5.1 million and 5.5 million. The FHFA house price index showing home appreciation is meanwhile expected to have eased in October to 0.4% from 0.8% in September.

In equities, pSivida ( PSDV ) surged 36% in recent pre-market trade after reporting a phase 3 trial of its Medidu to treat noninfectious uveitis affecting the posterior of the eye met the primary efficacy endpoint.

Meanwhile, solar power stocks were weaker ahead of the Nevada Public Utilities Commission's proposal for new net metering regulations. Net metering allows businesses and residences with solar systems to receive credits for excess energy they provide. SolarCity ( SCTY ) and Vivint Solar ( VSLR ) said overnight that if the decision is accepted they would have to cease operations in the state.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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