US GDP Might Contract By This Much In Second Quarter, Here Are The Major Macro Issues For Thursday

US GDP Might Contract By This Much In Second Quarter, Here Are The Major Macro Issues For Thursday

U.S. stocks closed higher on Wednesday with the Nasdaq Composite climbing more than 200 points amid a rise in Amazon.com, Inc. AMZN and Microsoft Corporation MSFT shares.

Let’s have a look at the major economic events scheduled for today.

  • Gross Domestic Product report for the second quarter is scheduled for release at 8:30 a.m. ET. The third estimate of Q2 GDP, at a minus 0.6% consensus, is likely to show no change versus the second estimate.
  • Data on initial jobless claims for the latest quarter will be released at 8:30 a.m. ET. Jobless claims are projected to come in at 218,000 for the September 24 week compared to 213,000 in the previous week.
  • The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET.
  • The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
  • Federal Reserve Bank of Cleveland President Loretta Mester is set to speak at 1:00 p.m. ET.
  • Federal Reserve Bank of San Francisco President Mary Daly will speak at 4:45 p.m. ET.

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Posted In: Economic DataNewsEconomicsPre-Market OutlookMarkets