Stock Market Update
28-Apr-22 08:33 ET
Advance estimate for Q1 GDP points to contraction in economic growth
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +54.50. Nasdaq futures vs fair value: +245.00.
The S&P 500 futures trade 55 points, or 1.3%, above fair value.
Just in, the advance first quarter GDP pointed to a contraction of 1.4% (Briefing.com consensus +1.1%). The first quarter GDP Deflator came in at 8.0% (Briefing.com consensus +7.3%).
Separately, the latest weekly initial jobless claims count totaled 180,000 (Briefing.com consensus 182,000). That was below the prior week's revised count of 185,000 (from 184,000). As for continuing claims, they decreased to 1.408 mln from a revised count of 1.409 mln (from 1.417 mln).
