NEW YORK, April 27 — US stock index futures pared gains today after weaker-than-expected US. gross domestic product data fueled fears that the economy was losing steam, though a batch of upbeat earnings reports supported sentiment.
Data showed that US GDP increased by 1.1 per cent in the first quarter, compared with economists’ expectations of a 2 per cent growth, while the core personal consumption expenditure for the first quarter rose by 4.9 per cent, versus economists’ projections of a 4.7 per cent growth.
At 8:33 a.m. ET, Dow e-minis were up 153 points, or 0.46 per cent, S&P 500 e-minis were up 22 points, or 0.54 per cent, and Nasdaq 100 e-minis were up 123.75 points, or 0.96 per cent. — Reuters