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Stock futures up but pare gains on economic data

Stock futures up but pare gains on economic data

Stock futures are paring their gains after reports on initial jobless claims and gross domestic product fell short of forecasts.
But futures are sharply higher after China reaffirmed its confidence in European debt.
The Labor Department says initial jobless claims fell to 460,000. Economists were expecting a drop to 455,000.
A separate report Thursday says the U.S. gross domestic product grew by 3 percent in the first quarter. That's worse than a previous estimate of 3.2 percent.
Dow Jones industrial average futures are up 151, or 1.5 percent, at 10,077. Standard & Poor's 500 index futures are up 21.40, or 2 percent, at 1,082.60, while Nasdaq 100 index futures are up 38.75, or 2.2 percent, at 1,830.75.


Updated : 2021-05-07 20:55 GMT+08:00