Futures drop to session lows after GDP • 8:54 AM
- DJIA (NYSEARCA:DIA), S&P 500 (NYSEARCA:SPY), and Nasdaq 100 (NASDAQ:QQQ) futures are all off by 0.6% after Q1 GDP growth came in at just 0.2% versus expectations for a 1% gain.
- More interestingly, a print this weak and the resulting decline in stock futures would normally lead to a sizable drop in bond yields. However, a big selloff in European fixed-income looks to be driving the action in the U.S., and the 10-year yield at 2.02% is at its highest in nearly two months.
- Previously: More on GDP miss: Exports slide as dollar strengthens (April 29)
- Previously: GDP about flatlines in Q1 (April 29)
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