The Joplin Globe, Joplin, MO

Business

February 28, 2014

Stock futures fall on 4Q GDP report

NEW YORK — Stock futures were pointing to a lower open on Friday, following a report that showed the U.S. economy grew at a slower-than-expected pace in the last three months of 2013.

KEEPING SCORE: The Dow Jones industrial average futures fell 14 points to 16,258 as of 9 a.m. Eastern. The Standard & Poor’s 500 index futures fell two points to 1,851 and the Nasdaq futures were down four points to 3,697.25.

ECONOMIC CHILL:  The U.S. economy grew at a 2.4 percent annual rate in the October-December quarter, significantly slower than first thought. The reduced figure reflected slower consumer spending than what was initially estimated. Economists expect severe winter weather to slow growth further.

REBOUND FEBRUARY: After a 3.6 percent loss in January, the S&P 500 is up 4 percent this month — its best performance since October 2013. The index closed at an all-time high on Thursday at 1,854.29.

 

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