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Stock Futures Fall on Earnings Misses
The Street ^ | October 26, 2012 | Andrea Tse

Posted on 10/26/2012 4:21:30 AM PDT by John W

NEW YORK (TheStreet) -- U.S. stock futures were falling sharply Friday after a series of disappointing corporate earnings, including those from online retailer Amazon.com, and ahead of a domestic economic growth report.

Amazon.com came up short on both the top and bottom line in its latest quarter despite a year-over-year sales increase of nearly 30%.

The Bureau of Economic Analysis is forecast by economists to say Friday that the advanced estimate on U.S. gross domestic product showed growth of 1.9% in the third quarter versus 1.3% in the second quarter. The report is due at 8:30 a.m. EDT.

At 9:55 a.m., the final read on the University of Michigan Consumer Sentiment Index for October is expected to come in at 83 compared with the previous estimate of 83.1.

(Excerpt) Read more at thestreet.com ...


TOPICS: Business/Economy; News/Current Events
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To: John W

Hysterical that they got Obama his “2” handle. They worked overtime to get it to 1.95000000000000000000000000000000001% Watch it be revised down to 1.7% before it’s final.


21 posted on 10/26/2012 6:25:15 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: John W

Oh yeah, without a huge surge in government spending for the first time since the ARRA stimulus, GDP would have been around 1%.


22 posted on 10/26/2012 6:26:58 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: bert
"Obama started the game of jiggering numbers to bring about a political goal, a press cycle of a trend in his favor."

That's racist talk!!! /s

23 posted on 10/26/2012 6:38:13 AM PDT by jdsteel (Give me freedom, not more government.)
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