Equity Markets Calm After European Q1 GDP

by devteam May 12th, 2010 | Share

The global stock market is relatively benign this morning, and domestic stocks look to open firmer, after Euro zone Q1 GDP rose 0.2% in the quarter, slightly faster than expected and following the prior quarter's flat reading.

Annual GDP was up 0.5%, in line with forecasts, and following a 2.2% pullback in Q4.

“Debt concerns were allayed somewhat by news of better-than-expected Q1 GDP growth in the Euro area and by Spain’s announcement to slash public sector spending and wages,” said economists from BMO in a morning note. “Even the wobbly Chinese stock market had a rare up day.”

An hour before the opening bell, Dow futures are up 44 points to 10,753 and S&P 500 futures are up 5.10 points to 1,157.30.

Light crude oil is up 0.20% to $76.52, and Spot Gold is up 2.03% to $3.77

Key Events Today:

8:30 â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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