Thursday March 27, 02:20 PM
US pre-open: Strong start expected
LONDON (ShareCast) - US futures pointed to strong gains as investors contemplate the final reading on fourth-quarter gross domestic product. The Commerce Department said GDP grew at 0.6% in the last quarter, unchanged from the previous estimate
a month ago. Consumers boosted buying at a 2.3% pace in the fourth quarter, better than the 1.9% previously estimated.
Meanwhile, the Labor Department said jobless claims fell by a seasonally adjusted 9,000 to 366,000, which was less than forecast. Across the markets, the Dow Jones (news) is expected to rise 92 points to 12,475 with the Nasdaq (NASDAQ: news) seen up 4 points to 1815. The S&P 500 is due to start up 11. In company news, Oracle posted a jump in profit late Wednesday but sales were down against estimates. Home builder Lennar Corp swung into a 56 cent-per-share loss as it saw sales and prices slide but the figure was still ahead of expectations.
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