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June 28, 2012

US futures fall ahead of latest GDP report

Associated Press

NEW YORK — Stock futures are sliding ahead of a new report that is expected show meager U.S. economic growth at the same time that doubts are growing over Europe’s ability to contain its debt crisis.

Dow Jones industrial average futures are down 72 points to 12,481. Standard & Poor’s 500 futures are down 7.7 points to 1,317.80 and Nasdaq futures gave up 13 points to 2,544.75.

The U.S. Commerce Department releases the third and final estimate for first-quarter growth Thursday. Economists are not expected to change their previous estimates of 1.9 percent growth.

European leaders are gathering in Brussels trying to figure a way out of the continent’s vicious debt cycle, but hopes for a panacea are weakening with little consensus.

 

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