U.S. stocks are set for a lower up on Thursday after rising over the past 2 days with investors closely watching any political developments about Trump’s proposed tax cuts.
It was reported earlier this morning that continuing jobless claims increased for the week as Q4 2016 GDP increased by 2.1 percent in the third estimate, according to the U.S. Bureau of Economic Analysis, slightly better than the 1.9 percent in the 2nd estimate.
“The increase in real GDP in the fourth quarter reflected positive contributions from PCE, private inventory investment, residential fixed investment, nonresidential fixed investment, and state and local government spending that were partly offset by negative contributions from exports and federal government spending” the Bureau of Economic Analysis wrote.
During the 3rd quarter of 2016, U.S. GDP rose 3.5 percent.
Tomorrow new updates with inflation (PCE) for February are reported alongside 2 other economic reports: Chicago PMI (March) and Michigan Sentiment (March).
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