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Futures Edge Down Pre-Bell as Traders Await Key Economic Reports; Asia Mixed, Europe Higher
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Futures Edge Down Pre-Bell as Traders Await Key Economic Reports; Asia Mixed, Europe Higher
Mar 28, 2024 4:58 AM

07:31 AM EDT, 03/28/2024 (MT Newswires) -- The benchmark US stock indexes were pointing marginally lower before Thursday's opening bell as investors awaited key economic data, including the third and final estimate of Q4 gross domestic product at 8:30 am ET.

Dow Jones Industrial Average, S&P 500, and Nasdaq futures were all slightly in the red in premarket trading. Asian exchanges were mixed overnight while European bourses were tracking moderately higher.

In addition to Q4 GDP, the economic calendar includes weekly jobless claims and Q4 corporate profits at 8:30 am. The Chicago Purchasing Managers' Index for March posts at 9:45 am, followed by the final University of Michigan consumer sentiment report for March at 10 am.

The National Association of Realtors pending home sales index for February is out at 10 am, followed by the weekly EIA domestic natural-gas supplies report at 10:30 am. The Kansas City Fed Manufacturing Index for March is scheduled for an 11 am release, while the weekly Baker Hughes domestic oil-and-gas rig count and February farm prices are due 1 pm and 3 pm, respectively.

Home Depot (HD) shares were flat pre-bell after the home improvement retailer agreed to acquire building products supplier SRS Distribution for $18.25 billion. RH (RH) gained 9.4% as the home furnishing retailer said it anticipates annual revenue growth in fiscal 2024 with demand trends accelerating throughout the year.

Walgreens Boots Alliance (WBA), MSC Industrial Direct (MSM) and BRP (DOOO) report financial results early Thursday, among others.

Before the open, bitcoin rose 2.8% to $70,567, West Texas Intermediate crude inclined 0.9% to $82.06 a barrel, yields on 10-year Treasuries advanced 2.2 basis points to 4.22% and gold increased 0.9% to $2,232 an ounce.

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