(Editor’s note: The future prices of benchmark tracking ETFs, and the headline were updated in the story.)
U.S. stock futures fell on Thursday after a higher close on Wednesday, as all indices ended marginally higher, but the small-cap index, the Russell 200, declined.
A slew of economic data was released on Thursday before the markets opened. First-quarter real GDP was revised down to an annualized growth rate of 1.6%, while the Fed’s preferred inflation gauge, the April PCE price index, rose 0.4% from the prior month and 3.8% year-over-year.
Meanwhile, initial jobless claims for the week ending May 23 edged higher to 215,000, and April durable-goods orders surged by a stronger-than-expected 7.9%, driven by a sharp rebound in transportation equipment.
A U.S. official, speaking anonymously to Reuters, said American forces struck an Iranian ground control station in Bandar Abbas that was allegedly preparing to launch attack drones.
The official also said U.S. forces shot down four one-way drones that posed a threat near the Strait of Hormuz. “These actions were measured, purely defensive, and intended to maintain the ceasefire,” the official said
The 10-year Treasury bond yielded 4.50%, and the two-year bond was at 4.05%. The CME Group’s FedWatch tool‘s projections show markets pricing a 99.1% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.
| Index | Performance (+/-) |
| Dow Jones | -0.11% |
| S&P 500 | -0.12% |
| Nasdaq 100 | -0.26% |
| Russell 2000 | -0.25% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were lower in premarket on Thursday. The SPY was down 0.0027% at $750.48, while the QQQ was lower by 0.023% to $729.61.
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