Pre-market, futures are down as fourth quarter GDP came in at +2.8% with +3.2% expected. Gainers this morning include EMN (+8.13%), COG, HAL, KLAC and VRSN while losers include JNPR (-10.15%), F, CLF, CB and NUE. Light crude is up +0.20% at 99.90 and gold down -0.15% at 1,724.10.
Greece continues negotiations with private-sector creditors in an attempt to reduce its debt burden and without an agreement and access to bailout funds might not be able to make a â‚¬14 billion debt payment that’s due March 20.
European stocks were mixed in midday trading while Asian markets ended mixed.
Starbucks (SBUX) beat Wall Street estimates with strong earnings and revenue in its fourth quarter.
Procter & Gamble (PG) earned $1.10 per share in its fiscal second quarter, beating forecasts for $1.08 per share. However PG lowered its outlook for the year and shares are down 0.5% in pre-market trading.
Earnings reports: CVX-Chevron (earnings consensus $2.85), PG-Procter & Gamble (1.08), MO-Altria Group (0.49), F-Ford Motor (0.26), HON-Honeywell International (1.04), D-Dominion Resources (0.64), NEE-NextEra Energy (0.91), AEP-American Electric Power (0.41), TROW-T Rowe Price Group (0.69), MCHP-Microchip Technology (0.42), NWL-Newell Rubbermaid (0.38), IDXX-IDEXX Laboratories (0.63), DHI-DR Horton (0.04), NS-NuStar Energy LP (0.31), LM-Legg Mason (0.27).
0830 ET Q4 U.S. GDP expected +3.0% annualized, Q3 +1.8% annualized. Q4 personal consumption expected +2.4%, Q3 +1.7%. Q4 GDP price index expected +1.9%, Q3 +2.6%. Q4 core PCE expected +0.9% q/q, Q3 +2.1% q/q.
0955 ET Final Jan U.S. University of Michigan consumer confidence expected unchanged at 74.0, previous +4.1 to 74.0.