Skip to comments.Stock Futures Fall on Earnings Misses
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 ...
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.
Oh yeah, without a huge surge in government spending for the first time since the ARRA stimulus, GDP would have been around 1%.
That's racist talk!!! /s
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